Volvo Cars have announced they will invest SEK 10 billion (£0.81 billion/$1 billion/€0.96 billion) in its Torslanda manufacturing plant in Sweden in the coming years. This is in preparation for the production of the next generation of fully electric cars.
With its next generation of pure electric cars, Volvo Cars aim to offer customers a longer range, quicker charging and lower costs, and reach new milestones in automotive safety and sustainability.
As part of the planned investments, the company will introduce a number of new and more sustainable technologies and manufacturing processes in the plant. These include the introduction of mega casting of aluminium body parts, a new battery assembly plant and fully refurbished paint and final assembly shops.
The investments follow a recent announcement by Volvo Cars and Northvolt, a leading electric vehicle (EV) battery company, to invest SEK 30 billion in the development and manufacturing of high-quality, tailor-made batteries for the next generation of pure electric Volvo models.
Both investment plans represent new steps towards Volvo Cars’ ambition to be a fully electric car company by 2030 and reflect the company’s commitment to a long-term future in its hometown of Gothenburg.
Håkan Samuelsson, Volvo Cars chief executive, said: “With these investments, we take an important step towards our all-electric future and prepare for even more advanced and better electric Volvos.
“Torslanda is our largest plant and will play a crucial role in our ongoing transformation as we move towards becoming a pure electric car maker by 2030.”