GÖTEBORG, Sweden, Aug. 3, 2022
/PRNewswire/ -- To meet the growing demand for battery electric
heavy-duty vehicles and machines, the Volvo Group has initiated the
process to establish a large-scale production plant for battery
cells in Sweden.
"We aim to lead the transition to a decarbonized transport
system and have the long-term ambition to offer our customers
solutions that are 100% fossil free. There is a 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-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. We
aim to do this together with partners and the journey starts now,"
says Martin Lundstedt, President and
CEO of the Volvo Group.
An extensive site localization study has been done, which
indicates that the Skaraborg region in Sweden is an ideal location for the plant. The
proposed site in the municipality of Mariestad is situated close to
the Volvo Group's current main powertrain plant in Skövde and will
benefit from the region's existing industrial and logistics
infrastructure and build on a strong heritage and world-class
competence in advanced, high-volume manufacturing, while having
access to Sweden's rich supply of
fossil free energy. The Volvo Group's R&D centers and
headquarters in Gothenburg are
only two hours away.
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,
supporting the global roll-out of electric trucks, buses,
construction equipment and electric drivelines for different
applications.
Establishment of the production site is subject to approvals
from relevant authorities. The final localization will be
determined after the public consultation has been conducted and
operations are subject to environmental permit approvals.
August 3, 2022
Journalists wanting further information, please
contact:
Claes Eliasson
Volvo Group Media Relations
+46765537229
For more information, please visit volvogroup.com
For frequent updates, follow us on Twitter: @volvogroup
About the Volvo Group
The Volvo Group drives prosperity through transport and
infrastructure solutions, offering trucks, buses, construction
equipment, power solutions for marine and industrial applications,
financing and services that increase our customers' uptime and
productivity. Founded in 1927, the Volvo Group is committed to
shaping the future landscape of sustainable transport and
infrastructure solutions. The Volvo Group is headquartered in
Gothenburg, Sweden, employs almost
95,000 people and serves customers in more than 190 markets. In
2021, net sales amounted to SEK 372
billion (EUR 37 billion).
Volvo shares are listed on Nasdaq Stockholm.
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SOURCE AB Volvo