Volvo, Samsung to develop batteries for electric trucks
October 26, 2020 Business
Volvo Group and Samsung SDI have announced the formation of a strategic alliance that will develop battery packs for Volvo Group’s electric trucks. Working with Samsung SDI, Volvo Group aims to accelerate the speed of development and strengthen the long-term capabilities and assets within electromobility across all truck segments and markets.
The alliance will cover joint development of battery packs specifically developed for Volvo Group’s truck applications while Samsung SDI intends to provide battery cells and modules to meet the demand for the Volvo Group’s electric trucks. The intention is that Volvo Group will utilize Samsung SDI’s battery pack technology for assembly in Volvo Group’s manufacturing operations.
“With electromobility the increasing needs for transport will be done in a cleaner and quieter way which opens up new possibilities for our customers and society as a whole,” says Martin Lundstedt, President and CEO of the Volvo Group. “The alliance with Samsung SDI is an important next step on our journey towards offering the world’s most truly sustainable transport system with fossil-free alternatives for our commercial vehicles,”
Samsung SDI CEO Young-Hyun Jun says his company is convinced that this alliance will provide superior offerings pertaining to energy, safety and sustainability to the commercial vehicle industry and beyond.
“We are confident that this alliance will secure the market leadership of the two companies in the long-term,” he adds.
Through the collaboration – and by utilizing Samsung SDI’s strong battery technology knowledge – Volvo Group Chief Purchasing Officer Andrea Fuder says the truck maker is “well-positioned to meet the increased market demands,” she says, adding. “We havestrengthenedourpowerfulelectromobilitytechnologyevenfurther.”