Volvo Group and Samsung SDI have entered into a strategic alliance to develop battery packs for Volvo Group’s electric trucks.
The goal of the alliance is to accelerate the speed of development and strengthen the long-term capabilities and assets within electromobility for Volvo Group customers in different truck segments and markets.
The agreement will cover joint development of battery packs specifically developed for Volvo Group’s truck applications. Samsung SDI intends to provide battery cells and modules to meet the demand for the Volvo Group’s electric trucks. Volvo Group intends to use the battery pack technology for assembly in manufacturing operations.
“Volvo Group is one of the world’s largest manufacturers of commercial vehicles,” says Martin Lundstedt, president and CEO of Volvo Group. “With electromobility, the increasing needs for transport will be done in a cleaner and quieter way, which opens up new possibilities for our customers and society as a whole. The alliance with Samsung SDI is an important next step on our journey towards offering the world’s most truly sustainable transport system with fossil-free alternatives for our commercial vehicles.”
“Samsung SDI is truly privileged to enter into a strategic alliance with the Volvo Group,” says Young-Hyun Jun, CEO, Samsung SDI. “As we stand at the crosscurrents of the mobility and transportation industry, we are convinced that this alliance will provide superior offerings pertaining to energy, safety, and sustainability to the commercial vehicle industry and beyond. We are confident that this alliance will secure the market leadership of the two companies in the long-term.”