Electric Volvo XC60 in 2024, and batteries from new Volvo and Nothvolt Gigafactory

Volvo is partnering with Swedish battery maker Northvolt to build a Gigafactory to supply Volvo EVs, the first an electric XC60.

Volvo has had a remarkable decade since it was acquired by Geely, but it clearly has no intention of sitting on its laurels and letting the future take care of itself, with aggressive plans to be all-electric and sustainable in quick sticks as the auto industry moves at pace in to a new future.

The latest move from Volvo is to team up with Swedish battery specialists Northvolt with plans to build a battery Gigafactory in Europe churning out 50Gwh by 2026, enough to power 500,000 cars and cover all Volvo’s battery needs for Europe.

To start with, the 50/50 joint venture will set up an R&D centre in Sweden next year (2022) to develop next-generation, state-of-the-art battery cells for Volvo and Polestar cars.

On the road to a fully operational Gigafactory in 2026, Volvo will source 15GWh of batteries from Northvolt’s battery plant in Sweden from 2024 to power the next-generation electric XC60.

Henrik Green, Volvo’s Chief Technical Officer, said:

Developing the next generation of battery cell technology in-house, together with Northvolt, will allow us to design batteries specifically for Volvo and Polestar drivers.

With cells developed in-house for our electric cars we can focus on giving Volvo and Polestar customers what they want, such as range and short charging times.