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

CDC updates guidelines, calls for vaccinated people to mask up

CDC updates guidelines, calls for vaccinated people to mask up

By Nikita Chaurasia

The Centers for Disease Control and Prevention issued new guidelines suggesting that people who are vaccinated against Covid-19 wear masks in public as well as indoor areas where the rate of the disease is high. The CDC also stated that teachers, sta...

iPhone’s hot streak could be hampered by global chip shortage crisis

iPhone’s hot streak could be hampered by global chip shortage crisis

By Nikita Chaurasia

Apple Inc. recently stated that the global chip shortage that has affected the sales of Macs and iPads, will now hit iPhone production and the expected revenue growth is likely to decelerate. This has resulted in lowering Apple’s shares. The c...

EV maker Rivian bags USD 2.5 Bn in a funding round led by Amazon, Ford

EV maker Rivian bags USD 2.5 Bn in a funding round led by Amazon, Ford

By Nikita Chaurasia

American electric vehicle maker Rivian Automotive LLC reportedly secured USD 2.5 billion in a funding round led by Amazon.com Inc, T. Rowe Price, D1 Capital Partners, and Ford Motor Co. In addition, the event also saw participation from Fidelity Man...

ICEA forms committee chaired by HP India MD to boost IT hardware sector

ICEA forms committee chaired by HP India MD to boost IT hardware sector

By Nikita Chaurasia

The India Cellular & Electronics Association (ICEA) recently announced the formation of a committee to promote manufacturing and exports of the IT hardware sector. The panel headed by Ketan Patel, HP India’s Managing Director, will set up a...

Amazon to stop on-site COVID-19 testing in U.S. warehouses this month

Amazon to stop on-site COVID-19 testing in U.S. warehouses this month

By Nikita Chaurasia

Amazon is reportedly planning to discontinue on-site Coronavirus testing for its warehouse employees in the United States. The retail giant confirmed slowing down the testing by 30th July and will only resume after receiving new guidelines change fro...