With the rapid development of the field of electric vehicles, car companies pay more and more attention to the investment in power batteries, in order to ensure the stability of the supply chain, many car companies are planning to build their own battery companies. Recently, The Smart Car Pie learned that Swedish car manufacturer Volvo Cars and battery manufacturer Northvolt will establish a joint power battery factory in Gothenburg, western Sweden.
It is reported that the plant will start construction in 2023 and is expected to start production in 2025, with a design annual production capacity of 50 GWh, which can be used by about 500,000 vehicles. And, the plant will provide 3,000 jobs. In addition, the plant will produce batteries developed specifically for the next generation of all-electric Volvo models and Polestar cars, which are expected to supply 500,000 cars per year.
It is worth mentioning that the two companies said in 2021 that they will form a joint venture to develop power batteries, including the establishment of a super factory for production and a research and development center, with a total investment of about 30 billion crowns (equivalent to about 20.8 billion yuan).
Founded in 1927, Volvo Car Group is a world-renowned luxury car manufacturer headquartered in Gothenburg, Sweden, controlled by Geely Holding Group, while Northvolt is a Swedish battery manufacturer that currently cooperates with companies including BMW, Fluence, Scania and others.
![Northvolt plans to build a lithium conversion plant with an annual capacity of 35,000 tons[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)