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STOCKHOLM (Reuters) – Swedish truck maker Volvo Group said on Wednesday its plant in Ghent, Belgium, will start generating battery modules in 2025.
“The resolve to invest in the installation of battery module production capacity in Ghent is a vital step for the Volvo Group to shape its long-term price chain for battery systems,” it said in a statement.
The new production line can only use battery-powered mobile phones from any of the partners and a planned battery-powered mobile phone factory in Sweden, Volvo Group said.
He said the creation procedure had started and the investment framework for the module’s first production level 75 million euros ($75. 09 million). He did not give a figure for the total investment.
The new 12,000-square-meter facility would be nearly automated, he said.
The Volvo Group aims for at least 35% of cars sold to be electric by 2030. Its Gothenburg plant in Sweden makes heavy electric trucks, and the truck plant in Ghent will also start doing so next year.
($1 = 0. 9988 euros)
(Reporting via Anna Ringstrom, editing via Stine Jacobsen)