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BUSINESS - EDITORIAL

Volvo Car Group Collaborates with CATL and LG Chem for Battery Supply

Volvo Car Group announced they had signed long-term battery supply agreements with CATL and LG Chem.

Monday, May 20, 2019

Volvo Car Group Collaborates with CATL and LG Chem for Battery Supply

Volvo Car Group Collaborates with CATL and LG Chem for Battery Supply

BUSINESS - EDITORIAL

by Caner Ozdemir

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With the multi-billion-dollar lithium-ion battery supply agreement, the needs of the next generation of Volvo and Polestar models will be supplied by the leading battery makers CATL and LG Chem for the next decade.

These agreements cover the global supply of battery modules for the existing CMA modular vehicles and the upcoming SPA2 models. It is, therefore, considered an essential step in the implementation of the Volvo Cars' electrification strategy.

In 2017, Volvo Cars, as one of the industry's leading manufacturers, committed that all Volvo models that will be launched after from 2019 will be electrified. Acting in line with this strategy, Volvo Cars is aiming for 50% of global sales in 2025 to consist of fully electric cars.

Manufacturing of XC40 at Volvo Cars Ghent plant

Manufacturing of XC40 at Volvo Cars' Ghent plant

The first battery assembly line of Volvo Cars will be activated at the end of this year in Ghent, Belgium. According to Volvo Cars' electrification strategy, first fully electric Volvo will be XC40 small SUV. Already the XC40's hybrid model is manufacturing in the factory located in Ghent.

As a result of the joint efforts of China, a South Korea, and a Swedish-based world-renowned industry groups, it is expected that a successful integration process will take place and a brand new page will open for Volvo Cars.