Together with the battery manufacturer Northvolt, the Volvo Car Group rejoices a joint venture. Targeted goal of developing and producing more sustainable batteries. This should be perfectly tailored to the next generation of fully electric Volvo and Polestar models.
First, a joint research and development center in Sweden will be created, which already takes its work in 2022. The necessary investment comes half of both companies. In addition to modern battery cells, technologies for vehicle integration should also be developed. In addition, a European Gigafactory with annual up to 50 gigawatt hours (GWH) capacity is planned. It should go into operation 2026.
From 2024, the Volvo Car Group wool 15 GWh to battery cells per year from the existing Northvolt ETT battery work in Swedish Skellefteå. In addition to the already announced arrangements for battery supplies, the partnership with Northvolt will back up the European demand for rechargeable batteries required for the ambitious electrification plans of the Swedish premium car manufacturer.
Volvo reacts with this joint venture to the fact that the battery delivery for the electric vehicles so far is responsible for much of the CO2 emissions incurred by the vehicle life cycle. Through cooperation with Northvolt and the on-site production near European works, the Volvo Car Group can reduce the ecological footprint of future e-vehicles resulting from the procurement and production of the batteries.
“The cooperation with Northvolt secures us the supply of high-quality, more sustainable battery cells for our pure electric cars. In addition, the close cooperation with Northvolt also strengthens our internal development capacities.”- Håkan Samuelsson, President and CEO of the Volvo Car Group
The battery cells developed as part of the joint venture are used in the next fully electric generation of the Volvo XC60, the best-selling Volvo model worldwide. Peter Carlsson, co-founder and CEO of Northvolt, arranges cooperation as follows: “Volvo Cars and Polestar are industry leaders in the transition to electrification and perfect partners to develop and produce the most sustainable battery cells in the world. We are proud to become your exclusive production partner for battery cells in Europe.”
“The cooperation with Northvolt is an important step on the way to complete electrification by 2030″, supplements Javier Varela, Head of Industrial Operations and Quality. “Batteries are among the most important components of electric vehicles. Through the partnership with Northvolt, we ensure an efficient and cost-effective supply chain for high-quality and sustainable batteries in Europe.”The partnership and joint venture are subject to concluding negotiations and agreements between the parties involved – including the approval of the Management Board.
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