Scania looks to save Northvolt's R&D facility
Following the bankruptcy of Northvolt, intense efforts have been underway to rescue parts of the business. On 22 May, bankruptcy administrator Mikael Kubu confirmed that there were interested parties and that negotiations were ongoing concerning various operations within the group — each at different stages of progress.
As previously reported, parts of Northvolt Systems' business have already been sold, while the future of the battery cell factory in Skellefteå—Northvolt Ett AB—remains uncertain.
Kubu stated on 22 May that a due diligence process is ongoing, but that the bankruptcy estate currently sees no realistic prospects for a buyer to take over production in the near term. As a result, battery cell production at Northvolt Ett will be gradually wound down, with the goal of ceasing operations entirely by 30 June.
Now, new information reveals that Scania — already the buyer of Northvolt Systems' industrial division — is also interested in acquiring Northvolt’s research and development facility in Västerås, known as Northvolt Labs.
In an interview with the Financial Times, Scania CEO Christian Levin said the company is in talks with other investors, including the Swedish government and the European Commission, about forming a consortium to take over the facility, reports Swedish broadcaster SVT.
“We’re trying to form a consortium that could co-finance the deal, but we can’t do it on our own. It’s simply too much even for a large company like us,” Levin told the Financial Times.
Northvolt invested more than USD 750 million in the Västerås facility, which has played a central role in the company’s technology and product development.
While the production lines in Skellefteå may soon fall silent, there is still hope that parts of the company's technological expertise can be preserved, if the right players step in.
Speaking to SVT on 11 June, Mikael Kubu declined to reveal who is involved in the ongoing talks.
“We never comment on who may be interested in acquiring a business from a bankruptcy estate,” he said.
