The Swedish car company Volvo Cars, belonging to the Geely Group, will invest 960 million euros (10,000 million Swedish crowns) in the refurbishment of the Swedish plant in Torslanda (Gothenburg) with the aim of producing electric vehicles.
Part of this investment will be used to install new technologies and more sustainable manufacturing processes in the aforementioned plant, including a mega-casting system for aluminum bodywork parts, a new battery assembly factory and several paint and final assembly workshops fully renewed, explains the Swedish brand in a note.
The investments follow a recent announcement by Volvo Cars and Northvolt, the leading battery cell company, to invest €2.9 billion (SEK 30 billion) in the development and manufacture of high-quality, tailor-made batteries for the upcoming generation of pure electric Volvo models.
It will only sell electric from 2030
Both investment plans represent further steps towards Volvo Cars’ ambition to be a fully electric car company by 2030 and reflect the company’s commitment to a long-term future in its hometown of Gothenburg.
Volvo Cars CEO Håkan Samuelsson said: “With these investments we are taking an important step towards our all-electric future and preparing for an even more advanced and better electric Volvo.”
“Torslanda is our largest plant and will play a crucial role in our ongoing transformation as we move to become a pure electric car manufacturer by 2030,” Samuelsson said.
The Torslanda plant has an annual production capacity of 300,000 vehicles and is one of Volvo’s oldest factories, having been opened in April 1964. Currently, the Torslanda plant operates in three shifts and employs around 6,500 people.
Volvo Cars Head of Engineering and Operations Javier Varela said: “Our future as a company is fully electric and that requires a variety of plant-wide upgrades to ensure Torslanda can continue to build premium electric cars of the highest quality. quality”.
The introduction of mega-cast aluminum body parts for the next generation of electric Volvo models is the most significant and exciting change implemented as part of the investment package.