Volvo to Establish Battery Assembly Plant in Sweden
GOTHENBURG, Sweden—To meet the growing demand for battery electric heavy-duty vehicles and machines, the Volvo Group has initiated the process to establish a large-scale battery assembly plant in Sweden.
“We aim to lead the transition to a decarbonized transport system and have the long-term ambition to offer our customers solutions that are 100 percent fossil free,” says Martin Lundstedt, president and CEO of the Volvo Group. “There is a strong demand from our customers already today, and by 2030, it is our ambition that at least 35 percent of the products we sell are electric. 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.”