Volvo signs long-term battery supply deal with CATL, LG Chem

blackwasp · 17th May 2019, 16:01

Volvo has signed a long-term battery supply deal with CATL and LG Chem. As part of the deal, the Swedish carmaker will secure the supply of lithium ion batteries for its Volvo and Polestar models for the coming decade. Contemporary Amperex Technology (CATL) is a Chinese battery manufacturer while LG Chem is from South Korea.

In 2017, Volvo said that from 2019, the company would launch only electric and hybrid cars. The company also aims for electric vehicles to account for 50% of all its cars sales by 2025.

Volvo’s first battery assembly line is currently under construction. It is located at its manufacturing plant in Ghent, Belgium and is expected to be finished by the end of the year. The facility, which manufactures plug-in hybrid versions of the XC40, could manufacture the all-electric XC40.

Volvo signs long-term battery supply deal with CATL, LG Chem-252194_plugin_hybrid_battery_pack_mounted_in_an_xc40_at_volvo_cars_ghent_plant.jpg

Volvo signs long-term battery supply deal with CATL, LG Chem-147972_t8_twin_engine_on_spa.jpg

Link to the Team-BHP News

17th May 2019, 16:01	#1
blackwasp Senior - BHPian Join Date: Apr 2015 Location: Navi Mumbai Posts: 2,974 Thanked: 26,325 Times View My Garage	Volvo signs long-term battery supply deal with CATL, LG Chem Volvo has signed a long-term battery supply deal with CATL and LG Chem. As part of the deal, the Swedish carmaker will secure the supply of lithium ion batteries for its Volvo and Polestar models for the coming decade. Contemporary Amperex Technology (CATL) is a Chinese battery manufacturer while LG Chem is from South Korea. In 2017, Volvo said that from 2019, the company would launch only electric and hybrid cars. The company also aims for electric vehicles to account for 50% of all its cars sales by 2025. Volvo’s first battery assembly line is currently under construction. It is located at its manufacturing plant in Ghent, Belgium and is expected to be finished by the end of the year. The facility, which manufactures plug-in hybrid versions of the XC40, could manufacture the all-electric XC40. Link to the Team-BHP News Last edited by blackwasp : 17th May 2019 at 16:02.
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