News

Volvo signs EV battery agreement

Volvo signs EV battery agreement

Volvo has signed long-term agreements that will secure its battery supply for a decade.

It has agreed deals with leading battery makers CATL and LG Chem to ensure the multi-billion dollar supply of lithium ion batteries for next-generation Volvo and Polestar models.

The agreements cover the global supply of battery modules for all models on the upcoming SPA2 and the existing CMA modular vehicle platforms, and represent a major step towards realising Volvo Cars' ambitious electrification strategy.

'The future of Volvo Cars is electric and we are firmly committed to moving beyond the internal combustion engine,' said Håkan Samuelsson, president and CEO of Volvo Cars. 'Today's agreements with CATL and LG Chem demonstrate how we will reach our ambitious electrification targets.'

Martina Buchhauser, senior vice president for procurement at Volvo Cars, added, 'With today's agreement we effectively secured our battery supply for the upcoming decade. By having two suppliers available in each region we also ensure that we have flexibility in our supply chain going forward.'

Volvo Cars' first battery assembly line is currently under construction at its manufacturing plant in Ghent, Belgium, and will be finalised by the end of this year.

Filed Under

We have placed cookies on your device to give you the best possible experience. By continuing to browse our site, you agree to our use of cookies. To find out more, please refer to our Privacy Policy

×

Find an Engineer

To find an engineer please enter your postcode below

Enter Postcode

Search
July/Aug 2019
Assessor Logo

The members magazine of the IAEA.

Published bi-monthly, it covers news, features, case studies, interviews and reports from IAEA meetings across the country to keep members up-to-date with what's happening around the industry. You can read the latest issue online, and also access previous editions by clicking on the relevant links.

Assessor Magazine
Footer Logo

Subscribe to our mailing list

Subscribe

Terms & Conditions | Privacy Policy
copyright 2016 The Institute of Automotive Engineer Assessors