Tag: Geely

Will Tesla’s Advantageous Panasonic Partnership Come To An End?

Is it all too good to be true moving forward? There’s definitely a chance that Tesla’s advantageous partnership with Panasonic could come to an end at some point. As we previously reported, sometimes it seems the Japanese battery cell maker is enamored with its Tesla partnership, but other times it appears that’s not necessarily the… Continue reading Will Tesla’s Advantageous Panasonic Partnership Come To An End?

Volvo announces battery suppliers for upcoming EV lineup, including Polestar

Polestar 2
Volvo, one of the first automakers to announce it would add electric power to its whole lineup, on Wednesday took the unusual step of formally announcing who will supply the batteries for all those electric cars.

The company stated that it will source $1 billion worth of lithium-ion batteries from two suppliers, LG Chem and Contemporary Amex Technology (CATL).

READ MORE: Polestar will qualify for $7,500 electric-car credit separately from Volvo

While the supply contract with Chinese CATL may have been predictable (Volvo is owned by Chinese automaker Geely, and CATL is one of the biggest players on the global stage). As competition for battery supplies heats up among automakers, it's also logical to name two suppliers. LG Chem supplies batteries for Volvo's current plug-in hybrids.

“With today’s agreement we effectively secured our battery supply for the upcoming decade,” said Martina Buchhauser, senior vice president for procurement at Volvo Cars in a statement. “By having two suppliers available in each region we also ensure that we have flexibility in our supply chain going forward.”

DON'T MISS: Volvo’s US Polestar electric-car plans are in flux over China tariffs

The batteries will go into Volvos based on two of the company's platforms: The Compact Modular Architecture that underpins the Polestar 2 and the Volvo XC40, will be the first. Those are the first two electric models from the company, with online preorders for the Polestar 2 already open and deliveries expected to begin next year. The XC40 electric is expected to debut late this year with deliveries following the Polestar 2.

Beyond that, Volvo's Scalable Product Architecture 2 that underpins the XC90 and XC60 SUVs will get the new batteries sometime after 2020.

CHECK OUT: Volvo taking on Tesla with Chinese-built Polestar 2 electric car: details and photos

The company is building its first battery assembly line at its existing auto factory in Ghent, Belgium. Volvo has said fully-electric cars will account for 50 percent of its sales by 2025. Volvo also announced that it is opening a new electric-car engineering center for Polestar in Coventry, England, to take advantage of engineering expertise there, the company said.

“The future of Volvo Cars is electric, and we are firmly committed to moving beyond the internal combustion engine,” said Volvo Cars CEO Håkan Samuelsson in a statement. “Today’s agreements with CATL and LG Chem demonstrate how we will reach our ambitious electrification targets.”

Volvo Car Group signs multi-billion dollars battery supply deals

SHANGHAI, May 15 (Xinhua) — Volvo Car Group announced on Wednesday that it signed long-term agreements with leading battery makers CATL and LG Chem to ensure the multi-billion dollars supply of lithium-ion batteries over the coming decade for next-generation Volvo and Polestar models.

The agreements cover the global supply of battery modules for all models on the upcoming SPA2 and the existing CMA modular vehicle platforms and represent a major step toward realizing Volvo Cars' ambitious electrification strategy.

In 2017, Volvo Cars made the commitment that all new Volvo cars launched from 2019 would be electrified. The company stated that it aims for fully electric cars to make up 50 percent of its global sales volume by 2025.

“The future of Volvo Cars is electric, and we are firmly committed to moving beyond the internal combustion engine,” said Håkan Samuelsson, president and CEO of Volvo Cars. “Today's agreements with CATL and LG Chem demonstrate how we will reach our..

Volvo’s new app tells you what to do after a car accident

Sponsored Links Volvo Being in a car accident is stressful — even the smallest bump can send your nerves sky high, and in times of extreme tension it’s easy to forget the usual protocols. But Volvo is here to make the whole unfortunate experience a little easier to manage. The company has just released a… Continue reading Volvo’s new app tells you what to do after a car accident

Volvo inks multi-billion dollar EV battery supply deals with LG Chem, CATL

Swedish carmaker Volvo said on Wednesday it had signed long-term battery supply deals with two Asian battery makers, South Korea’s LG Chem and China’s Contemporary Amperex Technology Co Ltd (CATL).Volvo, owned by China’s Geely, is launching electric-vehicle (EV) models under Volvo and its sub-brand Polestar as it takes on global peers including Volkswagen, Tesla and General Motors in the increasingly competitive market for electric vehicles (EVs).

Volvo inks multi-billion-dollar battery deals with LG Chem and CATL for EVs

Volvo Car Group has inked a massive multi-billion-dollar supply deal with Chinese battery manufacturer CATL and Korea’s LG Chem to supply its planned fleet of electric vehicles. The lithium-ion batteries from both suppliers will power the development of Volvo Cars’ electrification strategy for its own brand and the company’s Polestar joint venture with Chinese auto manufacturer… Continue reading Volvo inks multi-billion-dollar battery deals with LG Chem and CATL for EVs

Volvo Cars signs ‘multi-billion dollar’ supply deals with Asian battery firms

VIDEO2:0002:00Volvo Cars wants open trade and zero tariffs, CEO saysSquawk Box EuropeThe Volvo Car Group has signed long-term, “multi-billion dollar” deals with two major battery makers in Asia. In an announcement Wednesday, the car firm said that the agreements with firms CATL and LG Chem would ensure a supply of lithium ion batteries for its next generation Volvo and Polestar models.
The deals chime with Volvo Cars' wider strategy to electrify its vehicles. In 2017 the firm committed to ensuring all new Volvo cars launched from 2019 would be electrified. In addition, it wants fully electric cars to account for half of its global sales volume by 2025.
“The future of Volvo Cars is electric and we are firmly committed to moving beyond the internal combustion engine,” Hakan Samuelsson, the president and CEO of Volvo Cars, said in a statement Wednesday.
“Today's agreements with CATL and LG Chem demonstrate how we will reach our ambitious electrification target,” he added.
CATL and LG Chem are Chinese and South Korean businesses respectively. A major player in the automotive sector, Volvo Cars was bought by China's Zhejiang Geely Holding in 2010. The business sold 642,253 cars last year.
Speaking to CNBC's Squawk Box Europe on Wednesday, Samuelsson emphasized the importance of infrastructure being in place to support its commitment to electric mobility.
“That is really going to decide the pace we have in the transition,” he said, going on to add that the “supply of batteries will be crucial.”
Overall, 408,000 plug-in vehicle units were sold across Europe in 2018, according to analysis from EV-Volumes.
In 2017, there were more than 3 million electric and plug-in hybrid cars on the planet's roads, according to the International Energy Agency's (IEA) Global Electric Vehicles Outlook. This represents an increase of 54 percent compared to 2016.
Almost 580,000 electric cars were sold in China in 2017, according to the IEA, while around 280,000 were sold in the U.S.