Volvo and Northwolt have announced a new battery factory

Volvo will build a new gigabattery factory in partnership with Swedish battery maker Northvolt. The new factory will start producing batteries in 2026, and among other things, they will be used for the next generation of electric Volvo and Polestar vehicles.

The first to use batteries from the new giga factory will be the next generation Volvo XC60. The new XC60 will appear in 2024, and like the XC40 P8 Recharge it will have electric drive.

When the plant is completed, a production capacity of up to 50 GWh per year is expected (which should be enough for some 600,000 vehicles).

Volvo and Northwolt will have a 50% share in this project under the contract, but the exact location where the factory will be built has not been announced yet. It has only been announced that it will be located near Volvo’s vehicle production line, as well as that around 3,000 workers will get jobs there.

Finally, it should be reminded of Volvo’s announcements that from 2030 it will only produce electric vehicles.

Ivan Mitic –

Source: AutoBlog by

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