On February 4th, foreign media reported that Volvo Cars and battery manufacturer Northvolt will build their joint battery factory in Gothenburg, western Sweden.
Volvo said the new 50 GWh factory will create up to 3,000 jobs and produce batteries specifically developed for pure electric Volvo and Polestar cars, with production beginning in 2025.
The total investment of the two companies is about SEK 30 billion ($3.3 billion), including the establishment of a production giant factory and a research and development center. Former high-ranking Tesla executive Adrian Clarke has been appointed to lead the battery production company.
Peter Carlsson, CEO of Northvolt, said he learned from Tesla and has gained rich experience in building such battery factories. However, they also said that the construction of the new factory is still difficult due to the global supply chain problem, semiconductor shortage and the COVID-19 pandemic.
Previously, Northvolt built a battery factory in Skelleftea, Sweden, which is also the first European company to design and manufacture batteries.
Volvo Cars’ target is to achieve 50% of sales as pure electric vehicles by 2025, and sell only fully electric vehicles by 2030.
Volkswagen is the largest shareholder of Northvolt. So far, the company has received contracts worth more than $30 billion from customers such as BMW, Fluence, Scania, Volkswagen, Volvo Cars and Polestar.
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