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Volvo Group to establish battery production plant in Sweden.

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NORDIC BUSINESS REPORT-August 3, 2022-Volvo Group to establish battery production plant in Sweden

(C)2022 M2 COMMUNICATIONS http://www.m2.com

Commercial vehicle manufacturer Volvo Group (STO:VOLV-B) (OTCM:VLVLY) announced on Wednesday that it has begun the process to establish a large-scale production plant for battery cells in Sweden, to meet the growing demand for battery electric heavy-duty vehicles and machines.

The company said an extensive site localisation study has shown that the Skaraborg region of Sweden is an ideal location for the plant. This proposed site in the municipality of Mariestad is near to the Volvo Group's current main powertrain plant in Skövde and will benefit from the region's existing industrial and logistics infrastructure. Volvo added that the plant will build on a strong heritage and world-class competence in advanced, high-volume manufacturing, while having access to Sweden's rich supply of fossil free energy.

Establishment of the production site is subject to approvals from relevant authorities. The final localisation will be determined after a public consultation, and operations are subject to environmental permit approvals.

Martin Lundstedt, president and CEO of the Volvo Group, stated: "We aim to...

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