Volvo Partners with Northvolt for Gigafactory in Gothenburg

Volvo's Commitment to Electrification

Volvo is striving to become a fully electric car company by the year 2030. To achieve this ambitious goal, Volvo has partnered with Swedish battery developer Northvolt.

Gigafactory Development

The two Swedish companies have announced plans to build a gigafactory that will possess a potential annual cell production capacity of up to 50 gigawatt hours. This facility will create specifically developed batteries for Volvos and Polestars, while also generating approximately 3,000 jobs. Recruitment for the factory is set to begin by late 2030.

Understanding Gigafactories

If you’re new to the electric vehicle landscape, you may not be familiar with the term gigafactory. Coined by Tesla CEO Elon Musk, a gigafactory is a facility that produces batteries for electric vehicles on a large scale.

Location and Investment

The gigafactory will be located in Gothenburg, Sweden, and will also feature a research and development center that was announced by Volvo in December 2021. A significant investment of around 30 billion Swedish krona, equivalent to $3.29 billion, has been allocated for this project.

Statements from Leadership

“Establishing this gigafactory in Gothenburg is a decisive move, both to continue to transform one of the most dynamic automotive regions in the world, and to become the leading global supplier of sustainable batteries,” said Peter Carlsson, Co-Founder and CEO of Northvolt.