Industry Value Chain

Acquisitions & Consolidation 2025 saw significant industry consolidation and acquisition, driven by the acquisition of bankrupt companies either as a whole or in parts to enter new sectors, expanding supply chains for critical materials, or boosting production capacities.

Scania VW subsidiary acquires Northvolt's heavy industry battery packs unit

Acquires parts (technology + U.S. production) of Superior Graphite

Acquired 125k acres of lithium-rich Smackover Formation TX, AK

Source: Company announcements

Bought Northvolt assets in Sweden, Germany, and Poland + IP + Cuberg

Volvo takes full control of NOVO Energy after Northvolt Bankruptcy

Takes over insolvent German parts supplier Manz (equipment + employees)

Completes purchase of Nikolaʼs battery assets for US battery production

Acquired Maxwell Technology to expand energy storage portfolio

Acquired bankrupt Li-Cycle assets and subsidiaries

Acquired 24.8% of Zangge Mining for their lithium assets for $1.87 billion

40% in the Goulamina lithium mine in Mali

45% in Avalonia lithium project in Ireland

Acquired Arcadium Lithium for $6.7 billion

Acquired controlling stake in Chileʼs Salares Altoandinos

5% in Lithium Americas

5% in Thacker Pass JV

15% in MP Materials

Extracted from the PDF; charts and images may read imperfectly.