Volvo Group plans to build battery plant for truck business

OSLO — Swedish truck maker Volvo Group plans to build a large-scale manufacturing plant for battery cells, little by little developing it up towards 2030 to fulfill a rising demand from customers for zero-emission transportation, the firm explained.

“There is a powerful need from our customers presently currently, and by 2030, it is our ambition that at minimum 35% of the goods we promote are electrical,” CEO Martin Lundstedt mentioned in a assertion.

“This ramp-up will require massive volumes of significant-accomplishing batteries, developed using fossil no cost energy and it is a logical up coming phase for us to contain battery production in our long run industrial footprint.”

The batteries will be tailor-made to business automobiles this sort of as trucks, buses, design devices and other electric powered drivelines.

The advancement of a manufacturing web-site in Sweden’s Skaraborg area will be finished alongside one another with associates, the enterprise reported.

The firm did not offer an expenditure forecast.

(Reporting by Terje Solsvik enhancing by Jason Neely)

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