Concern Volvo announced cooperation with battery manufacturers
Volvo is steadily gaining momentum in the burgeoning EV market and is constantly looking for new suppliers of batteries and electric motors. And if electric motors will soon be developed by the forces of the concern itself, then the situation with batteries is much more serious.
Without a large battery manufacturing facility like Tesla Motors, Volvo is forced to partner with third-party battery suppliers. Thus, it became known about the signing of a cooperation agreement with the Korean LG Chem and the Chinese CATL, which successfully sell lithium-ion batteries for various purposes.
The traction batteries that Volvo is ordering are for the SPA2 platform, which has just hit the market. It is worth noting that the cooperation will also extend to Geely cars, which are on very friendly terms with the Swedes and need high-quality batteries.
In the future, Volvo hopes to establish its own battery factory. Most likely, this enterprise will be built in China, but India is also a promising market, where trucks and buses of the concern are produced.