Battery Industry Scavenger Lyten Hit by Cash Crunch

Lyten, a tiny California battery startup, turned heads by snapping up assets from one of the industry’s most high-profile failures—but Lyten is now struggling itself.

Lyten this week laid off its chief battery strategist, just three weeks after it bought a battery factory from bankrupt Northvolt. It also let go 45 of its 300 employees, according to a person familiar with the matter. The company appears to have made the cuts, including two dozen members of its battery research team, in order to afford the expenses of operating the former Northvolt plant.