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

May 15, 2019 //By Christoph Hammerschmidt
Volvo signs multi-billion dollar battery supply deals with CATL, LG Chem
To secure the intended switchover to vehicles with electrified and electric powertrains, Volvo Car Group has signed long-term agreements with battery makers CATL and LG Chem.

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 towards realising Volvo Cars’ electrification strategy.

In 2017 Volvo made the industry-leading commitment that all new Volvo cars launched from 2019 would be electrified, i.e either with a hybrid or a battery electric drive. The company has since reinforced this strategy, by stating that it aims for fully electric cars to make up 50 % of its global sales volume by 2025.

CATL of China and LG Chem of South Korea are renowned battery manufacturers with track records supplying lithium ion batteries to the global automotive industry.

Volvo’s first battery assembly line for passenger cars is currently under construction at its manufacturing plant in Ghent, Belgium. It will be finalised by the end of this year and the first fully electric Volvo to be built at this plant is the XC40 small SUV. Already now, plug-in hybrid variants of the XC40 are manufactured there.

Volvo’s Compact Modular Architecture (CMA) currently underpins the XC40, as well as the fully electric Polestar 2 fastback and several models sold by LYNK & CO, Volvo’s sister brand which it co-owns with Geely. The upcoming SPA2 architecture is the next generation of Volvo’s in-house developed Scalable Product Architecture (SPA) and will be launched early next decade. SPA is one of the most advanced vehicle platforms in the car industry and currently underpins all Volvo models in the 90 and 60 Series. The first Volvo to be launched on SPA2 will be the next generation of the XC90 large SUV.

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