Swedish truck manufacturer Scania has acquired Northvolt’s heavy industry battery division, marking a key move in the ongoing restructuring of the Swedish battery maker.
The truck giant confirmed to Reuters that it was the buyer of the unit even though Northvolt did not directly name Scania in its announcement.
The acquisition sees Scania integrate Northvolt Systems Industrial into its Power Solutions division, which supplies engines and components for industries such as construction, agriculture, and mining.
This acquisition is part of Scania’s broader strategy to expand its power solutions portfolio and strengthen its position in industrial segments.
Northvolt, once Europe’s most promising EV battery manufacturer, has faced significant financial challenges. After a sudden and dramatic fall from grace, including filing for US Chapter 11 bankruptcy protection in late 2024, the company has been forced to restructure.
The sale of the industrial unit is part of Northvolt’s effort to offload non-core businesses and focus on its flagship battery plant in northern Sweden. This move follows previous divestments to companies like Norsk Hydro and Volvo Cars.
The division sold to Scania has been producing electric battery packs since 2019, primarily used in drilling rigs and forklifts.
Despite the broader financial troubles at Northvolt, this unit has been one of the few profitable aspects of the company. With its operations based in Gdansk, Poland, it serves major clients such as Swedish mining equipment maker Epiroc and Finnish engineering group Konecranes.
“This acquisition will provide access to a highly skilled and experienced team and a strong portfolio of battery systems, complementing Scania’s customer offering in industrial sectors like construction and mining,” a Scania spokesperson said.
Although the terms of the deal have not been disclosed, both companies have confirmed that Northvolt’s industrial operations will continue seamlessly, with orders contracted for 2025 still set to be fulfilled.
The sale also comes after Scania provided financial support to Northvolt in 2024, lending $100 million (R1.84 billion) to aid the company through its bankruptcy proceedings.
Scania has also been actively involved in improving the quality of battery cells produced at Northvolt’s factory in northern Sweden.
The transaction, which impacts around 300 employees, is still subject to regulatory approvals and the execution of binding agreements, but both companies have emphasized that the transition will be smooth, with no disruption to current operations.
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