The Volvo Group plans to build a battery plant for its heavy-duty commercial vehicles. The plant will be used to meet growing demand for zero-emission transportation, the company said on Wednesday.
“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,” CEO Martin Lundstedt
The batteries will be adapted to commercial vehicles such as trucks, buses, construction equipment and other electric drivelines.
If all goes well, Volvo plans to gradually increase capacity and reach large-scale serial production by 2030. They will design specific battery cells for commercial vehicles but have not yet detailed production capacity.
“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 development of the production site in Sweden’s Skaraborg region will be carried out jointly with partners, the company said.
The company did not announce the amount of investment to build the electric vehicle battery factory.
