What Northvolt does

Northvolt AB was a Swedish battery cell manufacturer founded in 2016 by former Tesla executive Peter Carlsson and Harald Mix, headquartered in Stockholm with a 16 GWh gigafactory (Northvolt Ett) in Skellefteå, an R&D and pilot facility (Northvolt Labs) in Västerås, a battery energy storage systems plant (Northvolt Dwa) in Gdańsk, Poland, and Europe's largest battery recycling facility (Revolt Ett) co-located in Skellefteå. The company produced lithium-ion cells — with sodium-ion launched in November 2023 and lithium-metal under development — using fossil-free hydroelectric power, in-house cathode active material production, and closed-loop recycling, targeting a 10 kg CO2e/kWh carbon footprint versus an industry standard roughly three times higher. Its business model was direct enterprise sales of hardware (cells and integrated systems such as Voltpack Core and Voltpack Mobile) to automotive OEMs (Volkswagen, Volvo via the NOVO Energy JV, Scania, formerly BMW), industrial OEMs (Epiroc, Scania), maritime customers (Candela), and grid-scale energy storage buyers, with recycling offered as a managed service through Revolt.

Northvolt raised over $8 billion in cumulative equity and debt from investors including Goldman Sachs, Volkswagen, Swedish AP pension funds, IMCO, CDPQ, BlackRock, Baillie Gifford, and the European Investment Bank, and reported a $200 million monthly investment rate in 2023. Despite $27 billion in reported 2021 contract wins, the company struggled to scale cell output, lost its BMW contract, suspended its cathode production subsidiary in October 2024, and filed for bankruptcy in March 2025 after burning nearly $1 billion in the first nine months of 2023 and failing to close a 2024 funding round. US-based lithium-sulfur developer Lyten acquired Northvolt's Swedish, Polish, and German battery assets in a deal valued at approximately $5 billion, completing the transaction in February 2026 and effectively ending Northvolt as an independent operating entity.

Name

Northvolt

Legal name

Northvolt AB

Website

https://northvolt.com

Company type

Private

Founded year

2016

Operating status

Closed

Headcount range

5,001–10,000 employees

Short description

Northvolt was a Swedish battery cell manufacturer (founded 2016, filed for bankruptcy March 2025) producing lithium-ion, sodium-ion, and lithium-metal cells plus integrated energy storage systems for automotive OEMs (Volkswagen, Volvo, Scania), industrial customers (Epiroc), and grid-scale storage applications from gigafactories in Sweden and Poland.

Ownership category

akta.pro rank

Product category

Battery Cell Manufacturing

NAICS

Battery Manufacturing (33591)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA)

akta.pro secondary industries

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB), Battery Cell Manufacturing (EV) (IMACACAB), Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF), Battery Pack Manufacturing & Module Assembly (EUAFABAI)

Keywords

• Lithium-ion battery cells
• Sodium-ion batteries
• Battery energy storage
• Battery recycling services
• Electric vehicle batteries

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Personnel, Technology or R&D, Operations

Revenue model

1. Battery Cell Sales: Sale of lithium-ion battery cells to automotive OEMs and industrial customers. Cells are manufactured to customer specifications for electric vehicles, construction equipment, maritime vessels, and other industrial applications. Revenue generated through direct contracts with major manufacturers.
2. Battery Systems Sales: Sale of integrated battery systems including Voltpack Core for grid energy storage and Voltpack Mobile System for mobile/flexible storage applications
3. Battery Recycling Services: Processing of end-of-life batteries and manufacturing scrap through Revolt facilities to recover raw materials for reuse in new battery production

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Northvolt manufactures lithium-ion battery cells for electric vehicles and industrial applications at its Northvolt Ett gigafactory in Skellefteå, Sweden. The company also develops sodium-ion and lithium-metal battery chemistries, produces integrated battery systems including Voltpack Core for grid storage and Voltpack Mobile System for mobile applications, and operates Revolt battery recycling services to recover raw materials for reuse in new battery production.

Product overview

Northvolt is a battery cell manufacturer offering a portfolio of lithium-ion and emerging battery technologies. Core products include lithium-ion cells (main commercial product), sodium-ion cells (launched November 2023), and lithium-metal cells (in development). The company provides battery systems including Voltpack Core (stationary storage) and Voltpack Mobile System (mobile storage). Manufacturing infrastructure includes Northvolt Ett gigafactory in Skellefteå (operational), Northvolt Labs in Västerås (R&D/pilot), and planned Northvolt Six in Quebec. Revolt battery recycling program supports circular economy goals.

Differentiator

Problem solved

Functional benefit

Brands

• Revolt: Northvolt's battery recycling brand and subsidiary operating the Revolt Ett recycling plant in Skellefteå, Sweden - Europe's largest battery recycling facility capable of handling 125,000 tons of battery material annually.
• Voltpack Core
• Voltpack Mobile System

Products and services

• Lithium-ion cells Prismatic and cylindrical lithium-ion battery cells manufactured at the Northvolt Ett gigafactory, delivering battery cells for electric vehicles and industrial applications with a target carbon footprint of 10% of industry standard by 2030.
• Sodium-ion cells Emerging battery technology featuring salt-based Prussian White cathode and bio-based hard carbon anode, avoiding critical metals with significantly lower carbon footprint of 10-20 kg CO2 per kWh and validated energy density of 160 Wh/kg.
• Lithium-metal cells Advanced battery technology in development at Northvolt Labs representing next-generation battery chemistry with potential for higher energy density than conventional lithium-ion cells.
• Voltpack Core Stationary battery energy storage system for grid and industrial applications, enabling renewable energy integration, grid stabilization, peak shaving, and energy management solutions for utility and commercial customers.
• Voltpack Mobile System Mobile battery system providing flexible, deployable energy storage with fast-charging capability for various applications including maritime, construction, mining, and events. Used to power Candela electric boats for a 420 nautical mile world record attempt.
• Revolt Battery Recycling Battery recycling service through the Revolt Ett facility, Europe's largest battery recycling plant with 125,000 tonnes annual processing capacity, producing battery-grade metals including lithium, cobalt, nickel, and manganese for cathode production to support circular economy goals.

Quantifiable outcome

• 10 kg CO2e/kWh carbon footprint target by 2030 (approximately one-third of industry standard)
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature7 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Volvo CarscoreStrategic or Co-development PartnerVolvo Cars partnered with Northvolt through the NOVO Energy joint venture for battery development and supply. Volvo Cars later took full ownership of NOVO Energy in January 2025. Volvo is a key customer for battery cells.
• ScaniacoreStrategic or Co-development PartnerScania sources battery cells from Northvolt for electric trucks and buses. Partnership involves close collaboration on battery specifications for heavy vehicle applications.
• EpirocminorStrategic or Co-development PartnerEpiroc partnered with Northvolt for battery solutions in mining equipment, with Northvolt-Epiroc collaboration continuing from early stages.
• CinisminorStrategic or Co-development PartnerPartnership with Swedish startup Cinis to produce environmentally friendly mineral fertilizer by recycling sodium sulfate salt from Northvolt's manufacturing process.
• GalpminorStrategic or Co-development PartnerJoint venture with Galp to refine lithium in Portugal, part of Northvolt's strategy to develop European raw material supply chains.
• CastellumminorStrategic or Co-development PartnerPartnership with Castellum for construction of Labhouse office building in Västerås, featuring sustainable wooden frame construction.
• Fair Cobalt AllianceminorStrategic or Co-development PartnerNorthvolt joined the Fair Cobalt Alliance to support responsible cobalt sourcing from the Democratic Republic of Congo and professionalization of local mining practices.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SK On: Subsidiary of SK Innovation supplying cells to Ford, Hyundai-Kia, and Volkswagen. Direct competitor in automotive lithium-ion cells with parallel European/US gigafactory expansion plans.
• LG Energy Solution: Major Korean battery cell manufacturer with global automotive OEM contracts (GM, Hyundai, Honda, VW, Tesla). Closely comparable to Northvolt in cell format diversity, automotive focus, and pursuit of European gigafactory footprint.
• Samsung SDI: Korean battery cell supplier to BMW, Stellantis, Rivian, and Ford. Comparable to Northvolt in targeting premium automotive OEMs with prismatic and cylindrical cells and in expanding European production.
• Panasonic Energy: Primary cell supplier to Tesla and a major global automotive battery producer. Comparable to Northvolt as an established lithium-ion cell manufacturer targeting automotive OEM volume.
• CATL (Contemporary Amperex Technology): World's largest lithium-ion battery cell manufacturer supplying automotive OEMs globally. Direct competitor to Northvolt in lithium-ion cells for EVs, with far greater scale, lower cost, and incumbent automotive qualifications.
• BYD: Vertically integrated Chinese battery and EV manufacturer with proprietary Blade Battery (LFP) cells. Comparable to Northvolt's vertically integrated approach (cells + raw materials + end products) and a key cost benchmark.
• ACC (Automotive Cells Company): European battery cell JV between Stellantis, Mercedes-Benz, and TotalEnergies building gigafactories in France, Germany, and Italy. Most direct European-headquartered competitor pursuing the same automotive OEM supply opportunity as Northvolt.
• Envision AESC: Global battery cell manufacturer with European gigafactories in Spain and the UK supplying Renault and BMW. Comparable to Northvolt in automotive cell focus and in establishing European production to serve local OEMs.

Emerging players

• PowerCo (Volkswagen Group): Volkswagen's in-house battery subsidiary building gigafactories in Salzgitter and Valencia. Comparable vertical-integration strategy and was simultaneously Northvolt's largest investor, customer, and an emerging competitor.
• Verkor: French battery cell startup building a gigafactory in Dunkirk with backing from Renault, EQT, and EIB. Comparable European challenger to Northvolt targeting premium automotive customers with low-carbon cells.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/northvolt
• YouTubeyoutube.com/@northvolt5540
• Facebookfacebook.com/Northvolt
• LinkedInlinkedin.com/company/northvolt
• Instagraminstagram.com/northvolt

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds14 records

Investors62 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Northvolt