Recently, Volvo and Northvolt announced that they will build a new battery factory in Gothenburg, Sweden, to complement a research and development center announced in December. The plant will begin operations in 2025 and will require an investment of SEK 30 billion (RMB20.8 billion at current exchange rates).
Hakan Samuelsson, CEO of Volvo Cars, said: "Working with Northvolt's battery blades is key to our strategic objective in electrification, we are committed to being a leader in high-end electric vehicles and sustainable production will be at the heart of the plant's aim. As such, it will be powered by fossil-free energy, with a focus on promoting renewable energy capacity in the region. Since batteries form a large part of the environmental impact of electric vehicle manufacturing, Volvo wants to make its vehicles more environmentally friendly by minimizing the impact of the plant."
"Our new battery plant will support our ambition to have a complete climate neutrality and ensure the supply of high-quality batteries for years to come," said Javier Varela, Head of Engineering and Operations at Volvo Car Company. "Through our partnership with Northvolt, we will also greatly benefit from the end-to-end battery value chain, from raw materials to the complete vehicle, ensuring optimal integration in our vehicles."
The plant's potential battery production will reach 50gWh per year, which will meet the battery demand of about 500,000 cars per year, and they will be used in Volvo and Polestar. The plant will work with a new R&D center, which is scheduled to open this year and is also operated by Volvo and Northvolt. Together, they will work to create batteries that provide electric vehicles with long range and fast charging times.
It is reported that the upcoming battery factory will require up to 3,000 workers to operate and will become one of the largest battery manufacturing plants in Europe.