Lyten Revamps Leadership: A New Dawn for European Battery Production
Lyten, a Silicon Valley-based startup, is revitalizing European battery production by acquiring Northvolt's assets and appointing former executives of the bankrupt company. Matthias Arleth steps in as the new CEO of Lyten Sweden, with other past Northvolt executives joining to bring experience and stability to the company's operations.
- Country:
- Sweden
In a strategic move, Silicon Valley's Lyten has acquired Northvolt's assets, marking a significant step forward for European electric vehicle battery production. The startup announced the appointment of Matthias Arleth, the last chief operating officer of Northvolt, as CEO of Lyten Sweden, alongside the return of several other key executives.
Arleth, who joined Northvolt amid its tumult in July last year, will be joined by Sami Haikala and Markus Danglemaier in executive roles, both of whom will continue their prior work with Northvolt in Sweden. The new leadership team aims to leverage their familiarity with Northvolt's operations to stabilize and restart production across Sweden and Poland.
Lyten's CEO Dan Cook emphasized the importance of the new leadership team in navigating industrial transformation and maintaining customer delivery. Following the departure of former CEO Peter Carlsson in November, the new leadership under Arleth looks to steer the company towards a stable and productive future.
(With inputs from agencies.)
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