World Business Report US firm Lyten acquires assets of bankrupt European battery maker Northvolt
Aug 8, 2025
Ellen Johnson Sirleaf, Africa's first elected female president and former President of Liberia, joins the conversation to discuss pivotal economic policies and the pressing need for Africa to harness its vast resource wealth for local benefits. She emphasizes enhancing intra-African trade to reduce dependency on foreign aid. The discussion also dives into California-based Lyten's acquisition of Northvolt's assets, focusing on the challenges and innovations in the electric battery sector amid China's technological dominance.
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Lyten Acquires Northvolt Assets
- Lyten bought most of Northvolt's assets, including a Swedish gigafactory, to scale its lithium‑sulfur manufacturing.
- They saw world‑class facilities and teams as a fast route to European production.
Lithium‑Sulfur Cuts Mineral Dependency
- Keith Norman says lithium‑sulfur removes nickel, cobalt, manganese, and graphite from the supply chain.
- That creates a simpler, lower‑risk European and US material base for batteries.
Rebuild Customer Trust Step‑By‑Step
- Lyten plans to regain partners slowly by delivering on time, quality and quantities.
- Keith Norman says they'll rebuild trust "one customer by one customer."