Volvo Starts Process to Establish Plant for Battery Production in Sweden

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By Dominic Chopping

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STOCKHOLM–Volvo AB said Wednesday that it has started a process to establish a large-scale battery cell production plant in Sweden to meet growing demand for battery electric heavy-duty vehicles and machines.

The Swedish truck maker said that a site study indicated that the Skaraborg region on the west coast of the country was an ideal location for the plant as it is close to Volvo’s main powertrain plant while its headquarters and research and development centers in Gothenburg are two hours away.

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The battery cells will be designed specifically for commercial vehicle applications, supporting the global roll-out of electric trucks, buses, construction equipment and electric drivelines for different applications.

Volvo said it plans to gradually increase capacity and reach large-scale series production by 2030.

“By 2030, it is our ambition that at least 35% of the products we sell are electric,” Volvo Chief Executive Martin Lundstedt said.

“This ramp-up will require large volumes of high-performing batteries, produced using fossil free energy and it is a logical next step for us to include battery production in our future industrial footprint,” he said.

Establishment of the production site is subject to approvals from relevant authorities.

Write to Dominic Chopping at [email protected]

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Credit: www.marketwatch.com /

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