Bargain hunters beware: Northvolt is bankrupt and everything is going under the hammer

World domination

Batteries are in almost everything we use. In phones, smartwatches, electric cars – you name it. So whoever controls battery production has power. And that power currently lies mainly with China, which is responsible for about 70 percent of global production. The rest comes from Japan (Panasonic) and South Korea (LG, Samsung). Europe? That has yet to take off. To change that, Northvolt was founded in 2016. A Swedish company founded by two former Tesla executives: Peter Carlsson and Paolo Cerruti. The mission: to make Europe independent of Asian battery giants. Northvolt was to become Europe’s largest battery producer.

Gigafactory

In northern Sweden, Northvolt Ett – a gigafactory, as they also call it at Tesla – was rising. With a planned production capacity of 60 GWh per year and powered by hydropower and wind, this was to become the European battery hub. By the end of 2021, the first batteries rolled off the line. Major customers like Volkswagen, BMW, Volvo, Polestar and Scania joined in. Investors pumped billions of euros into the company. But production never really got going. Delivery problems piled up and customers pulled out. Only Scania remained. In the spring of 2025, the final curtain fell: Northvolt was declared bankrupt. The plant is now still running on limited capacity, with some 1,700 employees helping to wind down operations – until they too leave soon.

The lot goes on sale

And now? Now the entire factory is up for sale. Indeed: everything is going under the hammer. Equipment that was intended for the expansion of the plant – pumps, piping systems, transformers, switchboards – is ready to be sold. Much is still brand new and even unused. Some equipment is still in its original packaging.

To attract buyers, auction house PS Auction is offering a 3D tour. This allows interested parties to virtually walk through the factory and view the equipment in detail. Also fun to do if you have absolutely no idea what you’re looking at, trust us.

Bringing a piece of the European dream into your home?

So, always dreamed of an FP Crystallizer (we don’t know what that is either) or an entire anode coating production line – a system that applies anode material to copper foil with extreme precision? Then this is your chance! Also, the so-called Robot Rack (sounds cool!) is looking for a new owner. This is a fully automated high bay rack cabinet made by Siemens and equipped with extremely sophisticated controls. So if you want the coolest bookcase in Europe: make your move. You can take a leisurely look at the lot and take a 3D tour on this website.

Also read: Top 10: cars that depreciate the least according to ANWB