Volvo Cars Sweden Skovde Plant Begins Mass Production of Electric Motors

[Asia Economy Reporter Kiho Sung] Volvo Cars announced on the 11th that it will begin assembling electric motors at its engine plant located in Sk?vde, Sweden. Additionally, the company revealed plans to invest 90 billion KRW in the Sk?vde plant over the next five years to establish a complete production line.

The Sk?vde plant, which has been integral to the birth and history of Volvo Cars, will accelerate Volvo's electrification strategy by transforming into a key hub plant focused on electrification. The remaining internal combustion engine production at the Sk?vde plant will be transferred to Volvo Cars' subsidiary, Powertrain Engineering Sweden (PES).

Javier Varela, Senior Vice President of Operations and Quality, stated, "It is natural that the Sk?vde plant, which has been responsible for producing engines for most Volvo models including the first Volvo model, will now handle the production of Volvo's electric motors." He added, "Going forward, by completing the development and production lineup, we expect to further promote our electrification strategy by enhancing engineers' energy efficiency and overall performance."

Meanwhile, Volvo Cars plans to sell 50% of its total sales as pure electric vehicles by 2025 and aims to become a climate-neutral company by 2040. Under this eco-friendly vision, the company will continue to launch pure electric and hybrid vehicles.

This content was produced with the assistance of AI translation services.