Thursday, May 19, 2022

Swedish Companies Volvo and Northvolt establish battery joint venture

The two Swedish companies Volvo Car Group and Northvolt want to set up a 50:50 joint venture to develop and produce sustainable batteries. The main concern of the duo is the construction of a new battery cell factory in Europe with a potential capacity of up to 50 GWh per year.

The joint venture of the two companies wants to start with the implementation of a research and development center in Sweden. This center is scheduled to go into operation in 2022. The center is to build on the battery know-how of both companies and “develop ultra-modern battery cells and next-generation vehicle integration technologies”.

The battery cell factory with up to 50 GWh is planned to open in 2026 and employ around 3,000 people. The location has not yet been determined but the products manufactured there should be specially tailored to drive the next generation of all-electric cars from Volvo and Polestar. According to Partner, the first car with battery cells from the new joint venture will be the electric successor to the Volvo XC60. 

“With cells developed in-house for our electric cars, we can concentrate on giving Volvo and Polestar customers what they want, such as range and short charging times,” says Henrik Green, Chief Technology Officer at Volvo Cars.

The Volvo Car Group is also planning to purchase 15 GWh of battery cells per year from the Northvolt Ett factory in Skellefteå Sweden starting in 2024. In addition to the existing battery supply contracts this is intended to secure the European demand for battery cells. This is according to Volvo Cars in its press release. The battery partnership between Volvo and Northvolt is for Europe only for now. The Swedish carmaker has set itself the goal of selling 50% electric cars by 2025 and 100 % by 2030. Subsidiary Polestar wants to “develop a 100% climate-neutral vehicle” by 2030 as part of its Polestar 0 project.

See also  Tesla opens its first Supercharging station in Africa

We are looking forward to the developments of the nw battery factory and will keep you posted about more developments

Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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