Volvo Group begins process to establish battery production plant in Sweden

GOTHENBURG, Sweden, August 3, 2022 /PRNewswire/ — To meet the growing demand for battery-electric vehicles and heavy machinery, the Volvo Group has begun the process of establishing a large-scale battery cell production facility in Sweden.

“We aim to lead the transition to a carbon-free transport system and have the long-term ambition to offer our customers 100% fossil-free solutions. There is already strong demand from our customers today, and “by 2030, it is our ambition that at least 35% of the products we sell will be electric. This ramp-up will require large volumes of high-performance batteries, produced from non-fossil energy and it is a next logical step for us to include battery production in our future industrial footprint. Our goal is to do this with partners and the journey begins now,” says Martin LundstedtPresident and CEO of the Volvo Group.

An extensive site location survey has been carried out, indicating that the Skaraborg region in Sweden is an ideal location for the plant. The proposed site in the municipality of Mariestad is located close to the Volvo Group’s current main powertrain plant in Skövde and will benefit from the region’s existing industrial and logistics infrastructure and build on a strong heritage and skills world-class in advanced high-volume manufacturing. , while having access to Sweden abundant source of non-fossil energy. Volvo Group’s R&D centers and headquarters in Gothenburg are only two hours away.

The Volvo Group plans to gradually increase capacity and reach full-scale serial production by 2030. The battery cells will be designed specifically for commercial vehicle applications, supporting the global deployment of electric trucks, buses, construction equipment and electrical transmissions for different applications. .

The location of the production site is subject to the approval of the competent authorities. The final location will be determined after public consultation and operations are subject to environmental permit approval.

August 3, 2022

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Claes Eliasson
Volvo Group Media Relations

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About the Volvo Group
The Volvo Group drives prosperity through transportation and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase uptime and the productivity of our customers. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs nearly 95,000 people and serves customers in more than 190 markets. In 2021, net sales amounted to 372 billion Swedish crowns (37 billion euros). Volvo shares are listed on Nasdaq Stockholm.

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