Lyten's acquisition of Northvolt's manufacturing assets allows the company to expand its unique battery production that eliminates reliance on traditional materials like nickel and cobalt.
Lyten's innovative approach, using sulfur in a graphene matrix, creates batteries with higher energy density at a lower cost than conventional lithium-ion alternatives.
Facing financial difficulties, Northvolt shuts down research and development, laying off nearly 200 Cuberg employees and an additional 1,600 across its operations to conserve cash.
Northvolt's struggle to meet production goals and the subsequent cancellation of contracts, like the one with BMW, raises concerns about its operational sustainability moving forward.
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