Annual production will be 50GWh! Volvo partners with Northvolt to build battery super plant
Volvo Car Group and Northvolt plan to form a joint venture to develop and produce more sustainable batteries to power the next generation of all-electric vehicles from Volvo and Polaris. The plan includes the development and construction of a battery super plant in Europe.
The first step in the 50/50 joint venture is to establish a research and development center in Sweden, which is expected to begin operations in 2022. The two companies aim to develop the next generation of state-of-the-art battery and vehicle integration technologies dedicated to Volvo and Polaris vehicles.
The new JV plans to build a battery super plant, which will start production in 2026 and is expected to produce up to 50 GWh per year. the plant will employ around 3,000 people and will use 100% green energy.
The first model to use batteries produced by the new joint venture will be an electric version of the Volvo XC60. Volvo Car Corporation also plans to purchase 15GWh of batteries per year from Northvolt's Ett battery plant in Sweden from 2024 onwards.
In addition to producing new batteries, Northvolt aims to strengthen its recycling capabilities so that half of all its raw material needs come from recycled batteries by 2030. In the near future, Northvolt plans to build its first recycling plant next to the Ett battery plant, with an initial capacity of 4GWh.
Volvo Car Corporation aims to sell 50 percent of all electric vehicles by 2015; by 2030, only pure electric vehicles will be sold. Javier Varela, Head of Industrial Operations and Quality at Volvo Car Corporation, said, "Partnering with Northvolt is an important step towards full electrification by 2030, and this partnership will ensure that we build an efficient and cost-effective supply chain of high-quality sustainable batteries in Europe."
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