Volvo and Northvolt to Build 50 GWh Battery Factory in Sweden to "Reduce Carbon Footprint"

Perspective view of the joint factory of Volvo and Northvolt

[Asia Economy Reporter Choi Dae-yeol] Volvo Cars announced on the 7th that it will build a battery cell factory in Gothenburg, Sweden, in partnership with battery company Northvolt by 2025.

The new factory will produce battery cells for electric vehicles with an annual capacity of up to 50 GWh. The company explained that this volume is enough to supply 500,000 pure electric vehicles. The two companies had previously announced a rough investment plan in December last year and finalized the investment location after detailed discussions.

The new battery factory is close to Volvo Cars' Torslanda plant and the R&D centers of both Volvo Cars and Northvolt. It is expected to have good accessibility, receive renewable energy supply, and facilitate the recruitment of talent related to the job. The company anticipates that the batteries produced at the new factory will significantly reduce Volvo Cars' carbon footprint.

H?kan Samuelsson, CEO of Volvo Cars, said, "The battery cell partnership with Northvolt is at the core of Volvo Cars' strategic goals for electrification," adding, "We are committed to creating an environment where we can sell only pure electric vehicles to become the leader in the premium electric vehicle sector by 2030."

Peter Carlsson, CEO of Northvolt, stated, "Establishing a gigafactory in Gothenburg is a significant move to continue transforming one of the world's most dynamic automotive cities while becoming a leading global supplier of sustainable batteries."

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