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Released February 15, 2022 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Volvo Cars (Gothenburg, Sweden) has chosen the city of Gothenburg as the location to build an electric vehicle (EV) battery plant with Europe's leading EV battery manufacturer, Northvolt (Stockholm, Sweden).
Construction will kick off next year in Torslanda, Gothenburg, and the new plant will be up and running by 2025, the companies stated, creating up to 3,000 jobs. It will complement the planned R&D centre that both companies announced in December as part of a major US$3.3 billion investment. For additional information, see December 22, 2021, article--Volvo and Northvolt Confirm EV Battery Alliance.
Torslanda already is home to Volvo's largest car manufacturing plant. Last week, the company revealed a US$1.1 billion investment plan for the plant to support the shift to electrification. Alongside the new battery assembly plant, it will invest in the mega casting of aluminium body parts and fully refurbished paint and final assembly shops.
The alliance with Northvolt supports the company's goals of only producing and selling fully electric cars by 2030. The plant will have a potential annual cell production capacity of up to 50 gigawatt-hours (GWh), capable of supplying enough batteries for approximately half a million cars per year. Volvo already jointly owns EV car brand Polestar with China's Geely Holding Group.
"Our battery cell partnership with Northvolt is key to our strategic ambitions in electrification," said Håkan Samuelsson, Volvo Cars chief executive. "We are committed to becoming a leader in the premium electric car segment and selling only pure electric vehicles by 2030."
Peter Carlsson, co-founder and chief executive office of Northvolt added: "Establishing this gigafactory in Gothenburg is a decisive move, both to continue to transform one of the most dynamic automotive regions in the world, and to become the leading global supplier of sustainable batteries."
Northvolt, established in Europe in 2016 by two ex-Tesla executives, has just completed the construction of Europe's first EV battery gigafactory in Skelleftea, Sweden. Last month, Industrial Info reported that the plant had produced its first lithium-ion battery cell, making Northvolt the first European company to design and manufacture a battery on the continent. The plant aims to start large-scale manufacturing this year with an initial annual capacity of 16 GWh, or enough batteries for 250,000 cars, and this will ramp up to at least 32 GWh by 2024, with the potential to expand to 60 GWh in the future. For additional information, see January 11, 2022, article--Europe's First EV Battery 'Gigafactory' Starts Production.
Electric car sales have been rocketing in Europe over the past year, according to the latest data from the European Automobile Manufacturers' Association, with electrically-chargeable cars now accounting for almost 1 in every 5 new cars sold across the European Union. Battery electric vehicle (BEV) sales grew more than 63% in 2021, going from 538,734 to 878,432 cars sold, and accounting for 9.1% of all sales. Sales of plug-in hybrid electric vehicles (PHEV) grew 70.7% from 507,917 units in 2020 to 867,092 last year, accounting for 9%. Together they accounted for 18% of total sales, up from 10.5% in 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Construction will kick off next year in Torslanda, Gothenburg, and the new plant will be up and running by 2025, the companies stated, creating up to 3,000 jobs. It will complement the planned R&D centre that both companies announced in December as part of a major US$3.3 billion investment. For additional information, see December 22, 2021, article--Volvo and Northvolt Confirm EV Battery Alliance.
Torslanda already is home to Volvo's largest car manufacturing plant. Last week, the company revealed a US$1.1 billion investment plan for the plant to support the shift to electrification. Alongside the new battery assembly plant, it will invest in the mega casting of aluminium body parts and fully refurbished paint and final assembly shops.
The alliance with Northvolt supports the company's goals of only producing and selling fully electric cars by 2030. The plant will have a potential annual cell production capacity of up to 50 gigawatt-hours (GWh), capable of supplying enough batteries for approximately half a million cars per year. Volvo already jointly owns EV car brand Polestar with China's Geely Holding Group.
"Our battery cell partnership with Northvolt is key to our strategic ambitions in electrification," said Håkan Samuelsson, Volvo Cars chief executive. "We are committed to becoming a leader in the premium electric car segment and selling only pure electric vehicles by 2030."
Peter Carlsson, co-founder and chief executive office of Northvolt added: "Establishing this gigafactory in Gothenburg is a decisive move, both to continue to transform one of the most dynamic automotive regions in the world, and to become the leading global supplier of sustainable batteries."
Northvolt, established in Europe in 2016 by two ex-Tesla executives, has just completed the construction of Europe's first EV battery gigafactory in Skelleftea, Sweden. Last month, Industrial Info reported that the plant had produced its first lithium-ion battery cell, making Northvolt the first European company to design and manufacture a battery on the continent. The plant aims to start large-scale manufacturing this year with an initial annual capacity of 16 GWh, or enough batteries for 250,000 cars, and this will ramp up to at least 32 GWh by 2024, with the potential to expand to 60 GWh in the future. For additional information, see January 11, 2022, article--Europe's First EV Battery 'Gigafactory' Starts Production.
Electric car sales have been rocketing in Europe over the past year, according to the latest data from the European Automobile Manufacturers' Association, with electrically-chargeable cars now accounting for almost 1 in every 5 new cars sold across the European Union. Battery electric vehicle (BEV) sales grew more than 63% in 2021, going from 538,734 to 878,432 cars sold, and accounting for 9.1% of all sales. Sales of plug-in hybrid electric vehicles (PHEV) grew 70.7% from 507,917 units in 2020 to 867,092 last year, accounting for 9%. Together they accounted for 18% of total sales, up from 10.5% in 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
