Volvo Cars chief Jim Rowan joined the business last month.
In 2021, Volvo Cars said it planned to become a "fully electric car company" by the year 2030, a move which will require it to have a consistent and secure supply of batteries for its vehicles.Volvo Cars
"Recently, we made a reasonably substantial investment with Northvolt, so that we are in control of our own battery supply as we go forward," Jim Rowan, who joined the business last month, told CNBC's "Squawk Box Europe" Thursday."fully electric car company" by the year 2030,"I think battery supply is going to be one of the things that comes into scarce supply in the years to come," Rowan said.‘We need batteries,’ says Morgan Stanley.
This would enable Volvo Cars to be "in complete control of that electrical propulsion engine for the future," he said.with construction set to begin in 2023. According to the companies, the facility is set to "have a potential annual cell production capacity of up to 50 gigawatt hours."
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