The company started producing electric motors in Skövde, Sweden to install a new range of products that run entirely on electricity.
The $ 82.5 million investment will be used for the complete production of electric motors over the next 10 years. In the first phase, the Skövde plant will assemble only the electric motor while in the later stage the factory will assemble a complete vehicle.
“The first Volvo came out in 1927 with the engine built in Skövde,” said Javier Varela, senior vice president of industrial performance and quality at Volvo. “The team here is highly skilled and committed to providing the best quality standards.”
The design and development of electric motors are currently manufactured by Volvo at its Gothenburg plant, Sweden and Shanghai, China. When production of electric motors begins at Skövde, production of the internal combustion engine will be transferred to a separate subsidiary of Volvo, Powertrain Engineering, which will be merged with Geely operation.
Volvo wants half of its global sales to be all-electric models by 2025, with the rest to be hybrids. Speaking to the media recently, chief executive Hakan Samuelsson said that from 2030 he would be very surprised if Volvo produced anything other than electric cars.
Sunshine (according to the Carscoops)