Northvolt, Volvo to team up to develop, produce greener EV batteries

By Nikita Chaurasia  | Date: 2021-06-22

Northvolt, Volvo to team up to develop, produce greener EV batteries

Reportedly, Volvo Car Group is planning to join forces with Swedish battery developer and manufacturer Northvolt AB, to develop and produce more sustainable batteries for its electric cars.

As per the plans, the companies intend to set up a research & development center in Sweden that is scheduled to commence operations in 2022. The intention behind setting up the center is to leverage both firms' battery expertise to produce next-gen, modern battery cells and vehicle integration technologies tailored to power Volvo and Polestar cars.

Northvolt and Volva will set up a new gigafactory in Europe as part of the planned joint venture, with a capacity of up to 50-gigawatt hours (GWh) per year, with the first phase of production scheduled for 2026. The new factory will be powered by clean energy and is anticipated to have about 3000 employees, with the location yet to be determined, cited sources close to the matter.

A partnership with Northvolt will secure Europe’s battery cell demand that will fuel Volvo Cars' ambitious electrification goals, in addition to previously announced battery supply agreements. Volvo Cars intend to offer 50% pure electric cars by mid-decade, and it also plans to vend only fully electric cars by 2030.

Hakan Samuelsson, CEO at Volvo Car Group, mentioned they will assure a supply of superior quality, more sustainable battery cells for the company’s pure electric cars by joining forces with Northvolt.

Commenting on the move, Peter Carlsson, CEO, and Co-Founder of Northvolt, reportedly said Volvo Cars and Polestar are top players in the shift to electrification and ideal partners for the company’s goal of developing and manufacturing the world's most sustainable battery cells.

Volvo Cars will provide further information about its future technology plan at the Volvo Cars Tech Moment on 30th June.

Final negotiations and agreements between the parties, including board approval, are required for the partnership to yet be finalized, cited credible sources.

Source Credit –

https://www.automotiveworld.com/news-releases/volvo-car-group-and-northvolt-to-join-forces-in-battery-development-and-production/

 

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More >>

More News By Nikita Chaurasia

Tatas in plans to acquire Bisleri in a deal worth USD 856 million

Tatas in plans to acquire Bisleri in a deal worth USD 856 million

By Nikita Chaurasia

India's fast-moving consumer goods company, Tata Consumer Products Ltd is reportedly all set to acquire drink company, Bisleri International in a deal worth USD 856 million (₹7000 crores), reported the packaged water makers chairman, Ramesh...

Ukio raises $28M to offer comfort to working professionals across Europe

Ukio raises $28M to offer comfort to working professionals across Europe

By Nikita Chaurasia

Ukio, an apartment rental agency in Barcelona, Spain, has reportedly raised $28 million (€27 million) in a Series A round of funding. Apparently, the cash injection consists of over $17.5 million (€17 million) in equity and more than $10...

Amazon’s AWS unveils 2nd infrastructure region in Hyderabad, India

Amazon’s AWS unveils 2nd infrastructure region in Hyderabad, India

By Nikita Chaurasia

IT service management company, Amazon Web Services, Inc. (AWS), has recently announced the unveiling of another leading AWS infrastructure region in India, the AWS Asia Pacific (Hyderabad) Region. Starting this week, the startups, developers, ente...

Beijing reports increase in COVID-19 cases after first death in six months

Beijing reports increase in COVID-19 cases after first death in six months

By Nikita Chaurasia

World's most populous country, China has recently reported the fatalities of three people in Beijing as the first fatalities from coronavirus in the last six months, with the rise in recorded new cases despite following the strictest zero-COVID p...

India flags concern as rich nations want to extend mitigation to agriculture

India flags concern as rich nations want to extend mitigation to agriculture

By Nikita Chaurasia

During the ongoing COP27 (UN climate summit) in Egypt, India has countered the developed world’s effort for extending the scope of mitigation to agriculture, stating that rich nations are not seeking to mitigate emissions by modifying their lif...