Volvo plans to make its own batteries in electric truck shift

Volvo AB is expanding its electric truck efforts in Sweden. They plan on building a “large-scale” battery plant to help expand the demand. Transport Topics reported that “The world’s second-biggest truck maker plans to gradually increase capacity and reach large-scale series production by 2030. Volvo reiterated its target that at least 35% of its products should be electric by the same year.”

The market for heavy-duty battery rigs is still at its baby stages so Volvo is wanting to establish its place to be a leading part in this. They also reported that “Volvo, Traton SE, and Daimler Truck Holding AG are planning to spend 500 million euros ($509 million) to install at least 1,700 charging points in Europe for heavy-duty rigs and buses. Volvo revealed that their batteries would be specially made for the application of commercial vehicles. This plant will create jobs due to the high requirements.