Lyten revises battery delivery timeline and seeks EU subsidies

Lyten, the company that acquired assets from Northvolt, has revised its timeline for the delivery of battery cells. Co-founder and chairman Lars Herlitz stated that while production is progressing, the company needs to complete the re-qualification of cells following recent production line adjustments. Consequently, the start of deliveries is now expected in early 2025 rather than the previously anticipated late 2026.

Lyten is currently employing approximately 200 people, with plans to expand to 600 employees next year. The company is also seeking approximately 5.5 billion SEK in EU subsidies to accelerate the expansion of its battery factory in Skellefteå.

Unlike Northvolt, which focused heavily on the automotive industry, Lyten is targeting different sectors, including the defense industry, to avoid dependence on Chinese suppliers. The company also expects to secure its first external customer agreements within the next six to twelve months through discussions with data center operators and vehicle manufacturers.