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Volvo Car has partnered with Northvolt to develop and manufacture batteries

Stockholm — Volvo An automobile group owned by Geely Holding of China, Announced plan In a joint venture with Swedish battery maker Northvolt on Monday Electric car Established a factory for production.

The two companies will set up a research and development center in Sweden, start operations in 2022, and aim to open a factory in Europe with the potential to produce up to 50 gigawatt-hours (GWh) per year in 2026. I am.

Håkan Samuelson, Chief Executive Officer of the Volvo Car Group, said:

Northvolt will be Volvo Cars’ exclusive battery cell production partner in Europe.

The factory is powered by clean energy and is expected to employ approximately 3,000 people. The location of the factory has not been decided yet.

Northvolt Raised $ 2.75 billion This month, Volvo is acquiring shares to expand the production capacity of a plant under construction in northern Sweden, and Volvo plans to procure battery cells from that battery plant from 2024.

German car maker Volkswagen Northbolt’s largest shareholder and battery maker has billions of dollars in contracts. BMW And Scania.

Battery makers are struggling to keep up with demand as automakers switch to electricity to reduce carbon emissions from global warming.

Volvo Cars aims to sell 50% pure electric vehicles by the middle of the last decade and only full electric vehicles by 2030.

Electric successor Volvo XC60 The model will be the first car to feature a battery cell developed through a joint venture.

Volvo Car has partnered with Northvolt to develop and manufacture batteries

Source link Volvo Car has partnered with Northvolt to develop and manufacture batteries

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