19
Jul

Volvo, Samsung to develop batteries for electrical vehicles

Volvo Group and Samsung SDI have introduced the formation of a strategic alliance that can develop battery packs for Volvo Group’s electrical vehicles. Working with Samsung SDI, Volvo Group goals to speed up the velocity of improvement and strengthen the long-term capabilities and belongings inside electromobility throughout all truck segments and markets.

The alliance will cowl joint improvement of battery packs particularly developed for Volvo Group’s truck functions whereas Samsung SDI intends to supply battery cells and modules to satisfy the demand for the Volvo Group’s electrical vehicles. The intention is that Volvo Group will make the most of Samsung SDI’s battery pack expertise for meeting in Volvo Group’s manufacturing operations.

“With electromobility the rising wants for transport will probably be executed in a cleaner and quieter manner which opens up new potentialities for our clients and society as a complete,” says Martin Lundstedt, President and CEO of the Volvo Group. “The alliance with Samsung SDI is a crucial subsequent step on our journey in the direction of providing the world’s most really sustainable transport system with fossil-free alternate options for our business automobiles,”

Samsung SDI CEO Younger-Hyun Jun says his firm is satisfied that this alliance will present superior choices pertaining to power, security and sustainability to the business car trade and past.

“We’re assured that this alliance will safe the market management of the 2 corporations within the long-term,” he provides.

By the collaboration – and by using Samsung SDI’s sturdy battery expertise data – Volvo Group Chief Buying Officer Andrea Fuder says the truck maker is “well-positioned to satisfy the elevated market calls for,” she says, including. “We have now strengthened our highly effective electromobility expertise even additional.”