Friday, May 20, 2022

Volvo Cars to invest around $1.1 billion in Torslanda plant

Volvo Cars will invest ten billion Swedish kronor (around $1.1 million) in its Torslanda plant near Gothenburg. This investment is meant to prepare the company for the production of the next generation of fully electric cars.

The currently announced investment concerns only Volvo’s vehicle plant and is independent of the battery plant that Volvo and cell partner Northvolt plan to build in the immediate vicinity in Torslanda. As it was said when the plans were presented last week, both companies will together invest 30 billion SEK ($3.1 billion) in the 50 GWh factory and a research and development centre.

In order to be able to install the battery cells produced there in the vehicles, Volvo will build a battery assembly plant there as part of the investment package in the vehicle plant.

“With these investments we take an important step towards our all-electric future and prepare for even more advanced and better electric Volvos….Torslanda is our largest plant and will play a crucial role in our ongoing transformation as we move towards becoming a pure electric car maker by 2030.”

Håkan Samuelsson, President and CEO of Volvo Cars

The Torslanda plant, which opened in 1964, currently has a capacity of 300,000 cars per year. It is not clear from the announcement whether this figure will be increased as part of the modernisation measures.

Javier Varela, Head of Engineering & Operations at Volvo Cars, rather emphasises in his statement the importance of production quality and the “multitude of upgrades throughout the plant” needed to produce “premium electric cars”. Currently, the Torslanda plant operates in three shifts and employs around 6,500 people.

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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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