Neste in final phase of testing of renewable gasoline for commercial use in existing fleet news.europawire.eu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news.europawire.eu Daily Mail and Mail on Sunday newspapers.
Volvo & Geely cancel fusion and opt for cooperation
Volvo owner Geely and Volvo Cars have announced that they will forego their proposed merger and instead significantly deepen their existing cooperation as two separate companies. This includes, among other things, expanded joint use of modular architectures for electric cars.
In addition, joint procurement is expected to reduce purchasing costs, which makes sense with a higher proportion of common parts in shared platform use. Thus, at the press conference held online, the companies also announced to share the new SEA and SPA2 electric car architectures among their brands.
Volvo Cars and Geely confirmed their plan to merge the development and production of internal combustion engines and hybrid powertrains into a standalone company. This plan was announced back in 2019. In December 2020, Volvo also announced plans to manufacture electric motors at its Swedish engine plant in the future. The production of internal combustion engin
Volvo invests over $100 million to make electric motors in-house
The brand wants in-house electric motor production by 2025
1 / 1 photos
Volvo has announced it will invest almost AU$110 million to set up its own in-house manufacturing of motors for electric cars.
The Swedish-born car maker, which is today owned by Chinese company Geely, says it will equip its existing powertrain plant in Skövde, Sweden, to assemble and eventually manufacture e-motors before the middle of the decade.
While other car companies rely on outsourcing parts for electric powertrains, Volvo will follow in the footsteps of Tesla by bringing at least some of these operations in-house.
Volvo to invest $83 million to make e-motors in Sweden autonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autonews.com Daily Mail and Mail on Sunday newspapers.