Volvo Car Group and Northvolt have announced a 50/50 joint venture to build a megafactory in Europe, taking the number of megafactories in the pipeline on the continent to 23.
The partnership will see the two companies establish a megafactory with up to 50 GWh of capacity, aiming to start production in 2026.
Volvo also announced that it would source 15 GWh of lithium ion cells from the Northvolt Ett plant which is under development in Skellefteå, Sweden, and due to come online at the end of this year with a planned final capacity of 60 GWh.
In the . . .