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Volvo Plans to Make Its Own Batteries in Electric Truck Shift

  • Company eyes large-scale series production starting by 2030
  • Manufacturer currently sources batteries from Samsung SDI
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Volvo AB plans to build a “large-scale” battery plant in Sweden to meet an expected surge in demand for electric trucks and buses.

The Swedish manufacturer, which currently sources cells from Samsung SDI Co., said Wednesday it started a process to obtain approvals to set up its own production in the municipality of Mariestad. It didn’t disclose how much the factory would cost.