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Lyten has finalized its acquisition of Northvolt's battery assets in Sweden, worth approximately $5 billion. The deal includes the Skellefteå facility, which will resume production of lithium-ion batteries by the second half of 2026, and Northvolt Labs in Västerås.

Lyten plans to establish a Lyten Industrial Hub in Skellefteå to combine battery manufacturing and AI data centers, leveraging renewable energy sources. The company also aims to hire over 600 employees in the next year.