Volvo Car Group has signed long-term agreements with leading battery makers CATL and LG Chem to ensure the multi-billion dollar supply of lithium-ion batteries over the coming decade 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.
In 2017 Volvo Cars made the industry-leading commitment that all new Volvo cars launched from 2019 would be electrified. The company has since reinforced this strategy, by stating that it aims for fully electric cars to make up 50 per cent of its global sales volume by 2025.
“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.
This story is from the June 2019 edition of Motown India.
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This story is from the June 2019 edition of Motown India.
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