Volvo Energy to invest in Connected Energy.
Auto Business News-June 17, 2022--Volvo Energy to invest in Connected Energy
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Auto Business News - 17 June 2022
Volvo Energy, a business area within Sweden-based Volvo Group, is investing in the Connected Energy, a United Kingdom-based second-life battery energy storage specialist.
Volvo Energy is investing around SEK50m for 10 percent stake in Connected Energy. The investment is intended to further accelerate Volvo Group's battery business and sustainability opportunities.
Joachim Rosenberg, president Volvo Energy, said, 'There is a great deal of untapped potential in the second-life use of batteries. This forward-leaning investment aims to facilitate the scaling-up of second-life battery energy storage systems and further secure...
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