Volvo plans to invest SEK 10 billion to produce the next generation of electric vehicles in Sweden

China News Finance, February 9 (Reporter Peng Dawei) Volvo Cars said on the 8th that it will invest 10 billion Swedish kronor in its manufacturing plant in Torslanda, Sweden, in the next few years to prepare for the production of the next generation of pure electric vehicles.

Volvo Car Group is a world-renowned luxury car manufacturer headquartered in Gothenburg, Sweden. China Geely Holding Group is currently volvo's largest shareholder. Volvo Cars said on the same day that it will provide customers with the next generation of pure electric vehicles with longer range, faster charging speed and lower cost. The next generation of pure electric vehicles will reach new milestones in terms of safety and sustainability.

As part of the planned investment, the Torslanda manufacturing plant will introduce a whole new and more sustainable set of technologies and manufacturing processes. These include the introduction of an integrated aluminium casting process (subject to environmental clearance from the Land and Environment Court), a new battery assembly plant and a completely refurbished painting and final assembly workshop.

Volvo is accelerating its electrification vision of becoming a pure electric luxury car company by 2030 in Europe and around the world. Recently, Volvo Cars and Northvolt, a leading company in the field of battery cells in Europe, announced an investment of SEK 30 billion for the development and manufacture of high-quality batteries, which will be tailored for the next generation of pure electric Volvo models.

With an annual production capacity of 300,000 vehicles, the Torslanda plant is one of Volvo Cars' longest-running manufacturing plants. It was inaugurated in April 1964 under the auspices of King Gustav VI Adolf of Sweden and has long been the largest single factory in Sweden. Currently, the Torslanda plant operates in three shifts and employs around 6,500 people.

(China News Network)