Scania has acquired the Industrial Division of Northvolt Systems, which focuses on battery development for heavy industry and off-highway markets. The acquisition includes significant production capabilities, an R&D center, and approximately 260 employees. It will function independently within Scania Ventures, aiming to strengthen Scania's competitiveness and support sustainable transport. The deal follows Northvolt's recent bankruptcy, highlighting financial challenges in the battery sector. Scania aims to leverage Northvolt's expertise in battery systems to boost innovation and serve customers' transition to sustainable solutions.
By combining Northvolt Systems Industrial Division's battery expertise with Scania's deep industry knowledge, we are not only driving innovation but also strengthening our ability to serve our customers in their transition journeys.
This acquisition demonstrates how Scania Ventures and New Business leverage our capabilities in opportunity identification, M&A, and growth-stage company management to enable our core business and enhance our position as a transformation partner for our customers.
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