Volvo Group announces large-scale battery factory in Sweden to support production of electric cars
The Volvo Group announces that it has begun work on having a large-scale battery factory in Sweden to support its expansion of electric trucks, electric buses and production of electrical construction equipment.
The Volvo Group is not to be confused with Volvo Cars, which has been owned by China’s Geely for over a decade now.
The group is independent and manufactures trucks, buses and construction machinery.
In recent years, it has emerged as a leader in the electrification of these segments with products such as the VNR Electric truck, Volvo FL Electric, Volvo 7900 Electric Articulated Bus and even electric construction equipment such as its ECR25 Electric compact excavator.
Now the company is aiming to deliver these products in large volumes, but it will need a lot of batteries to do so since they are all heavy vehicles and machinery.
Today, the Volvo Group announced that a new battery factory is coming to Sweden:
To meet the growing demand for battery-electric heavy vehicles and machinery, the Volvo Group has begun the process of establishing a large-scale production facility for battery cells in Sweden.
Martin Lundstedt, president and CEO of the Volvo Group, commented on the announcement:
We aim to lead the transition to a carbon dioxide-free transport system and have the long-term ambition to offer our customers solutions that are 100% fossil-free. There is strong demand from our customers already today and by 2030 it is our ambition that at least 35% of the products we sell are electric. This ramp-up will require large volumes of high-performance batteries, produced with fossil-free energy, and it is a logical next step for us to include battery production in our future industrial footprint. We aim to do this together with partners and the journey begins now.
The location of the factory depends on permits and public consultation, but the Volvo Group is currently evaluating a site in Mariestad in the Skaraborg region in Sweden.
The company aims to achieve large-scale production by 2030 with cells specifically designed for its commercial vehicles:
The Volvo Group plans to gradually increase capacity and reach large-scale series production by 2030. The battery cells will be designed specifically for commercial vehicle applications and support the global rollout of electric trucks, buses, construction equipment and electric powertrains for various applications.
Volvo did not disclose the planned output in gigawatt hours for the new factory.
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