This sealed the sale of Northvolt. Former CEO on the battery giant's demise

Bankrupt Swedish battery maker Northvolt ramped up production of high-quality cells at its Skellefteå plant before operations were halted, former CEO Matthias Arleth said. He said this was a key factor in sealing the company's sale, Reuters reported.

Northvolt, once seen as Europe's answer to the dominance of Chinese battery makers, filed for bankruptcy in March and ceased production in June after failing to find a buyer in time, Reuters recalled.

US battery startup Lyten announced on Thursday that it will buy most of Northvolt's assets , reviving hopes for the European battery leader.

Lyten CEO Dan Cook told Reuters this week that the quality offered by Northvolt's management team – many of whom are expected to join Lyten – was a key factor behind the deal , and with profitability already at 90%, the expected implementation timeline would be relatively short.

Northvolt's former chief operating officer, Matthias Arleth, told a news conference that the company was producing up to 30,000 high-quality battery cells per week in Skellefteå . It is unclear what role, if any, Arleth will play in the company's future, Reuters commented.

Reuters reported in November that Northvolt had failed to meet internal targets for cells deemed good enough to be delivered to customers.