GOTHENBURG, Sweden, Feb. 17,
2023 /PRNewswire/ -- Volvo Construction
Equipment (Volvo CE) has announced an investment into battery pack
production at its excavator plant in Changwon, South Korea, signaling once again its ambition
to drive industry transformation with sustainable
solutions.
- The Changwon plant in South
Korea specializes in the production of excavators and is the
biggest excavator production site in Volvo CE
- The SEK 80 million ($7.8 million) investment from Volvo Group will
enable the plant to begin manufacturing a wide range of battery
pack solutions for the Volvo Group
- This is another important step forward towards the company's
Science Based Targets initiative and its ambitions to be fossil
free, with 35% of machine sales to be electric by 2030
With the SEK 80 million (around
$7.8 million) investment from Volvo
Group, a new production facility and equipment will be built at the
Changwon plant in South Korea
– which at around 1.1 million sq. m is the largest excavator
production site in Volvo CE, producing around 55% of its total
excavator volumes.
The new facility at the Changwon plant will produce a wide range
of common electric storage solutions (battery packs) for Volvo
Group and become a core competence center for electric excavators.
This will enable Volvo Group to offer more sustainable solutions to
its APAC markets in a more flexible, cost-effective and agile way
and will include supply chain, manufacturing and logistics.
Andy Knight, Head of Operations
Excavator and Managing Director of Volvo Group Korea, says: "As the
largest plant in Volvo CE and the core site for excavator
development and production, Changwon is at the forefront of our
shift to a sustainable future."
"This investment is an important milestone in our
electrification roadmap and supports our recent investments in
production facilities for electric excavators. Changwon is ideally
located close to battery module supply partners and other key
suppliers in South Korea to meet
the needs of customers in the future. We are also home to a highly
skilled and motivated workforce who are fully committed to meeting
our future environmental targets."
The new production facility will be built inside the current
component workshop at Changwon – without disruption to the existing
operation. Once complete the facility will be approximately 2,500
sq. meters including assembly and logistics areas. The building
work will begin in April 2023, with
battery pack production expected to commence in June 2024.
Coming soon after an announcement to invest in the production of
electric wheel loaders at its plant in Arvika, Sweden, and electric haulers from the
company's production facility in Braås, Sweden, this is another sign that Volvo CE is
committed to becoming completely fossil free by 2040 – in line with
the Paris Agreement and as laid out in its Science Based Target
goals. And it is taking another step forward in its ambition to
transform the industry through electromobility and other more
sustainable solutions.
Volvo CE has already successfully introduced compact electric
excavators to the global market with the ECR25 Electric, ECR18
Electric, EC18 Electric and the mid-size EC230 Electric excavators.
Together with its compact electric wheel loaders, Volvo CE has one
of the largest electric ranges on the market.
Journalists wanting further information, please
contact:
Åsa Alström
Head of Strategic Communications
Volvo Construction Equipment
asa.alstrom@volvo.com
For more information, please visit
www.volvoce.com
For frequent updates, follow us on
Twitter: @VolvoCEGlobal
LinkedIn: @Volvo Construction Equipment
Facebook: @VolvoCEGlobal
Instagram: @VolvoCE'
YouTube: @Volvo Construction Equipment
Volvo Construction Equipment (Volvo CE) is a global leader in
construction solutions, delivering premium products and services
that combine power and performance with a more sustainable way of
working. We are a company driven by people and together we have a
purpose: To build the world we want to live in. Founded in 1832 and
with a distribution network across every major market, our many
dedicated experts around the world are fulfilling our shared
purpose through a focus on sustainability, electromobility and
services. As well as our expanding range of electric machines and
charging solutions, Volvo CE provides industry-leading haulers,
loaders, excavators and much more, all built to suit the demands of
our customers' varied construction and infrastructure needs. Volvo
CE benefits from being connected to the Volvo Group, which also
offers trucks, buses, power solutions for marine and industrial
applications, financing and services that increase our customers'
uptime and productivity. Through its holistic perspective, Volvo
Group is committed to shaping the future landscape of sustainable
transport and infrastructure solutions. For further company
information and to explore our values further please visit
www.volvoce.com.
The following files are available for download:
https://mb.cision.com/Main/39/3717413/1857339.pdf
|
230217-volvo-group-volvoce-invests-in-battery-pack-production-at-excavator-plant-en
|
https://news.cision.com/ab-volvo/i/volvoce-changwon-1860x1050,c3145582
|
VolvoCE-Changwon
1860x1050
|
View original
content:https://www.prnewswire.com/news-releases/volvo-construction-equipment-invests-in-battery-pack-production-at-excavator-plant-301749697.html
SOURCE AB Volvo