Volvo XC60 successor might be first EV to make use of batteries co-developed by Volvo and Northvolt- Expertise Information, Alenz

Volvo XC60 successor might be first EV to make use of batteries co-developed by Volvo and Northvolt- Expertise Information, Alenz

Volvo and Sweden’s Northvolt have joined forces to construct a brand new battery manufacturing unit in Europe because the automaker goals to promote solely totally electrical vehicles by 2030, the businesses introduced. Swedish automaker Volvo and the battery start-up stated that, by a three way partnership, they may construct a gigafactory with a possible capability of fifty gigawatt hours (GWh) per yr, with manufacturing anticipated to begin in 2026. This may enable Volvo, which is owned by Chinese language automaker Geely, to equip round 800,000 automobiles per yr.

Europe has been ramping up efforts to develop into extra autonomous within the battery sector, as it’s nonetheless very depending on manufacturing from Asia.

The new battery plant will enable Volvo to roll out 800,000 EVs a year. Image: Volvo Cars

The brand new battery plant will allow Volvo to roll out 800,000 EVs a yr. Picture: Volvo Automobiles

Europe has initiatives to construct almost 40 gigafactories with a mixed annual output of 1,000 GWh and an estimated price of 40 billion euros, in response to a report by Transport & Atmosphere, a non-government organisation.

Volvo and Northvolt additionally plan to open a analysis and growth centre in Sweden subsequent yr that may develop “next-generation, state-of-the-art battery cells and car integration applied sciences”, in response to their joint assertion.

“Batteries are one of the vital elements in a totally electrical automobile, and by partnering with Northvolt we guarantee an environment friendly and cost-effective provide chain of high-quality and sustainable batteries,” stated Javier Varela, Volvo’s director of commercial operations.

The first Volvo to feature cells developed through the JV will be the electric successor to the Volvo XC60 SUV. Image: Volvo Cars

The primary Volvo to function cells developed by the JV would be the electrical successor to the Volvo XC60 SUV. Picture: Volvo Automobiles

Volvo is to purchase 15 GWh of battery cells per yr from Northvolt’s Swedish plant in Skelleftea from 2024.

The partnership will contribute to Volvo’s effort to make half of its vehicles totally electrical by mid-decade and all of them one hundred pc electrical by 2030.

The deal has but to be signed and authorized by the boards of Volvo and Northvolt.

The Volvo XC40 Recharge EV will be launched in India later this year. Image: Volvo Car India

The Volvo XC40 Recharge EV might be launched in India later this yr. Picture: Volvo Automobile India

Northvolt, which desires to develop into Europe’s largest producer of electrical automobile batteries, has additionally set up partnerships with Volkswagen, BMW and Scania.

Northvolt chief govt Peter Carlsson instructed the FT his firm was now “particularly the US, probably additionally Asia” for growth after beforehand saying the battery maker had greater than sufficient to do in Europe.


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