Scania agreed to buy Northvolt’s heavy industry business as the battery maker continues to work through a restructuring process.

Northvolt has agreed to sell its industrial battery unit to Swedish truckmaker Scania, as Europe’s troubled battery maker steps up restructuring to shore up its finances.

Sweden's Northvolt has agreed to sell a business that makes electric battery packs for heavy industry, one of its few profitable units, to its customer and partner Scania, the two companies said on Tuesday,

Swedish truck manufacturer Scania is set to acquire Northvolt’s Systems Industrial division, a battery system developer for heavy industry, as part of Northvolt’s strategic shift towards large-scale cell manufacturing, Reuters reported.

Sweden's Northvolt has agreed to divest its Systems Industrial division, a key developer and manufacturer of battery systems for heavy industry sectors. Northvolt’s Systems Industrial division will be acquired by truckmaker Scania,