By Marie Mannes, Alessandro Parodi and Gilles Guillaume
STOCKHOLM (Reuters) -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, interviews with over a dozen battery industry experts, analysts and car company sources revealed.
As well as taking on Northvolt’s production of lithium-ion batte