Insolvency RecordCASE FILES

Sweden · Battery manufacturing

Northvolt AB insolvency: proceedings and outcome

Northvolt AB, a Swedish lithium-ion battery maker, filed for Chapter 11 in the United States on 21 November 2024, reporting about 5.8 billion USD of debt and 30 million USD in cash, according to Wikipedia citing Reuters. It filed for bankruptcy in Sweden on 12 March 2025 and bankruptcy trustee Mikael Kubu later agreed the sale of its remaining Swedish and German assets to US battery company Lyten, which completed the purchase of the Swedish sites in February 2026.

Sold as going concern The Swedish bankruptcy estate agreed to sell Northvolt's remaining plants in Sweden and Germany and its intellectual property to Lyten. Lyten said on 27 February 2026 that it had completed the purchase of the Swedish sites in Skellefteå and Västerås, while the acquisition of the assets in Heide, Germany was still in progress.1,3

First filing21 November 2024
Liabilities reportedUSD about 5.8 billion
Proceedings2

Debt and 30 million USD cash at the Chapter 11 filing, per Wikipedia citing Reuters. Figures as of 21 November 2024.2

Proceedings

TypeCourt or bodyCaseFiled
Chapter 112US Bankruptcy Court, United States21 November 2024
Bankruptcy (konkurs)1,2Swedish court, with bankruptcy trustee Mikael Kubu, Sweden12 March 2025

Timeline

  1. Northvolt filed for Chapter 11 in the United States and secured 100 million USD of interim financing.2
  2. Chief executive Peter Carlsson resigned.2
  3. Northvolt filed for bankruptcy in Sweden.1,2
  4. The bankruptcy trustee reached an agreement for a scaled-down operation with about 1,700 employees.2
  5. Lyten announced a binding agreement to acquire Northvolt Ett, Ett Expansion, Northvolt Labs, Northvolt Drei and remaining intellectual property.1
  6. Lyten announced it had completed the acquisition of Northvolt Ett and Ett Expansion in Skellefteå and Northvolt Labs in Västerås. It said it was still progressing the acquisition of the assets in Heide, Germany.3

Sources

  1. Northvolt, Lyten to acquire all remaining Northvolt assets in Sweden and Germany (7 August 2025)
  2. Wikipedia, Northvolt (27 October 2026)
  3. Lyten, Lyten Completes Acquisition of Northvolt Sweden and Establishes its First Lyten Industrial Hub in Sweden (27 February 2026)