Volvo Group intends to build a battery plant for its truck segment and it will exclusively use fossil-free energy.
Volvo Group, which is currently the second-largest truck and bus maker in the world, has announced plans for a new battery cell production plant that will be capable of producing enough cells for the company's entire vehicle fleet. The move is part of Volvo's broader strategy to build a zero-emission product portfolio by 2030 and become an industry leader in this field.
The new plant will allow Volvo Group to respond quickly to the increasing demand for e-mobility for commercial vehicles.
"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," According to CEO Martin Lundstedt's statement.
"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."
The new facility will be located in Sweden's Skaraborg, a site that has been identified as a good location for industrial development by regional authorities.
The company sees this as an opportunity to expand its presence in the global market by being able to supply more batteries than ever before while also being able to provide even more benefits to customers.
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