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The parties agreed not to reveal the transaction value.
Northvolt Systems' Industrial Division, which includes production capabilities, a research and development center, and a team of approximately 260 employees, has been acquired by Scania. With this move, the Swedish manufacturer absorbs the operations currently operating at two locations: a leased production facility in Gdansk, Poland, and an R&D center in Tomteboda, Stockholm, Sweden.
Northvolt Systems' struggling Industrial Division develops and manufactures battery systems for the heavy industry and off-road market segments, offering a portfolio of battery modules and systems used in material handling, construction equipment, and mining. The acquired company will partner with Scania's Power Solutions business unit, allowing it to diversify its portfolio.
With over a century of propulsion innovation, Scania Power Solutions has built a strong reputation for delivering reliable and efficient engines that meet the toughest demands in the industrial, marine, and power generation segments. With this acquisition, Scania will strengthen its electrification offering for off-road applications.
The acquired company will partner with Scania Power Solutions and operate as an independent company within Scania Ventures and New Business, in line with its strategy of developing complementary and transformative businesses that strengthen Scania's long-term competitiveness.
"By combining the battery expertise of Northvolt Systems' Industrial Division with Scania's deep industry knowledge, we are not only driving innovation but also strengthening our ability to serve our customers through their transitions. This acquisition demonstrates how Scania Ventures and New Business leverages our capabilities in opportunity identification, M&A, and growth-stage business management to boost our core business and strengthen our position as a transformation partner for our customers, all in support of a more sustainable transport system," said Jonas Hernlund, Director of Energy and Infrastructure at Scania Ventures and New Business. As part of the acquisition process, Scania has reached an agreement with the trustee to acquire Northvolt Systems' Industrial Division. “Since 2017, Northvolt Systems Industrial has developed advanced battery systems for machines operating in demanding environments such as construction, mining, and material handling. Our flagship solution, Voltpack Core, reflects our ability to meet real-world industrial challenges. Joining Scania marks a new chapter in our journey. This acquisition unites two strong legacies in electrification and powertrain innovation. I am confident that together, we will strengthen our capabilities and deliver even greater value to our customers,” says Elin Åkerström, Vice President of Northvolt Systems Industrial.
Scania and the trustee have reached an agreement that ensures the continuity of operations. Following the acquisition, Northvolt Systems Industrial operations will continue as normal.
