Volvo Car Group has signed long-term agreements with leading battery makers CATL and LG Chem to ensure the multi-billion dollar supply of lithium ion batteries over the coming decade for next generation Volvo and Polestar models.
The automaker’s target is to switch to electric across all its cars by 2025.
The agreements cover the global supply of battery modules for all models on the upcoming SPA2 and Volvo’s existing “Compact Modular Architecture” vehicle platforms and represent “a major step towards realising Volvo Cars’ ambitious electrification strategy”, says the company.
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