Volvo Auto and CATL, LG Chemical Signing Electric Vehicle Battery Supply Agreement

Volvo Auto and CATL, LG Chemical Signing Electric Vehicle Battery Supply Agreement

Automotive manufacturers are trustworthy to ensure battery supply to support their planned electric vehicles in their plans, because they face an increasing demand for electric vehicles, and more stringent carbon emissions regulations around the world.. High quality large battery supply is limited, CATL, LG Chemical, Samsung SDI and Panasonic are the world’s largest battery supplier.

According to foreign media reports, Volvo Motors have signed a billions of dollars in the electric car battery from two leading Asian battery manufacturers.. The validity period of the agreement will last until 2025.

And this transaction of my country’s CATL and South Korea Chemical Group LG chemistry is the latest transaction of automakers to ensure battery supply for the future.. Hakansamuelsson, CEO of Volvo, will announce this transaction at the British Car Future Summit held in London on Wednesday.

. Volvo hopes that by 2025, half of the car selling will be completely electric. This means that in the next five years, the company will sell about 500,000 batteries per year.

. Samuelson said to the media before the meeting: “We want these two battery suppliers, because the output of these suppliers is huge..

“He added that the number of batteries ordered by Volvo” and the total supply of the global battery last year “. Ji Leopard and Bentley’s CEO will also speak at Summit on Wednesday..

British Minister of Commerce Greg Clark will also speak. Automotive manufacturers are trustworthy to ensure battery supply to support their planned electric vehicles in their plans, because they face an increasing demand for electric vehicles, and more stringent carbon emissions regulations around the world..

High quality large battery supply is limited, CATL, LG Chemical, Samsung SDI and Panasonic are the world’s largest battery supplier. The goal of Volkswagen is to sell 3 million electric vehicles in 2025, which will cost 50 billion euros to ensure battery supply, and Daimler will spend 20 billion euros in the next 10 years..

Volvo said that from this year, each new model will adopt hybrid or power drive technology.. Its first full battery car will be an electric version of XC40SUV.

At the same time, using CATL and LG chemical batteries supply flexibility for Volvo, and allow Volvo to circumvent various risks.. At present, Volvo purchases batteries from LG chemistry, used to hybrid models, which account for about 10% of Volvo sales.

. According to the new protocol, LG Chemistry and CATL will supply battery modules to Valvo, Volvo will be loaded into a battery pack in their own group..

In general, due to the weight and transportation cost of the battery pack, the car manufacturer wants the battery pack and the vehicle manufacturer they drive to close as possible.. Volvo has created the first battery assembly line in the factory of Belgium, and the first electric XC40 will also be produced there.

. These batteries will also be used in Volvo’s Polestar, this is the company’s electric car brand launched last year, but these batteries will not use their parent company Geely cars or other car brands such as lotus (Lotus) and forest Gram. This transaction makes Volvo to purchase the latest battery technology supplied by these two companies, not limited to current technology available.

. However, the agreement does not involve the next generation of battery technology such as solid state batteries.

Leave a Comment

Your email address will not be published.

Scroll to Top