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Silicon Valley startup Lyten will need to convince carmakers it can succeed where bankrupt Swedish EV battery maker Northvolt failed – creating a European champion to reduce the region’s reliance on China.
Lyten, which develops lithium-sulfur batteries, unexpectedly announced on August 7 it was buying Northvolt’s assets, offering a lifeline to future European battery production for electric vehicles.
But customers and investors burned by the Northvolt experience remain wary of committing without seeing a proven product that can be delivered at scale,…
