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Volvo Investing $82 5 Million In Order To Produce Electric Motors In-House

Volvo Investing $82 5 Million In Order To Produce Electric Motors In-House
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Electric/Hybrid - Volvo Cars to produce electric motors in Skövde, Sweden - Renewable Energy Magazine, at the heart of clean energy journalism

Volvo engine plant. Courtesy of Volvo Motors The company is aiming to invest 700 million Swedish Krona (SEK) to achieve this objective over the coming years and is committed to becoming a premium electric car company. It is pushing towards global sales consisting of 50 per cent fully electric cars by 2025, with the rest hybrids. The Skövde operations have been part of the Volvo Cars story ever since the company’s founding in 1927. Adding e-motor production to the plant’s activities means the historic ground in Skövde will be a part of the company’s future as well. Volvo Cars announced earlier this year that it is investing significantly in the in-house design and development of e-motors for the next generation of Volvo cars. With the planned investments in Skövde, it now takes the first steps towards in-house e-motor assembly and manufacturing.

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