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Volvo, Samsung SDI to Develop Electric Truck Batteries

The alliance will develop batteries for Volvo’s electric trucks, including the company’s first battery-powered FE refuse truck.

Volvo Group and Samsung SDI announced a partnership to develop batteries for Volvo’s electric trucks, including Volvo’s first battery-powered FE refuse truck. Through the partnership, Samsung will provide battery cells and packs directly to Volvo manufacturing plants.

In February, Volvo delivered its first all-electric vehicles to customers, which included the refuse truck to waste and recycling company Renova and a distribution truck to the logistics company DB Schenker and partner hauler TGM, operating in Sweden. The Volvo FE Electric is designed for heavier city distribution and refuse transport operations with gross weights of up to 27 tonnes.

Yahoo Finance has more information:

Volvo Group (NASDAQ: VLVLY) and Samsung SDI Co. Ltd. (KSE:006400) will jointly develop batteries for Volvo's electric trucks.

The strategic alliance announced Thursday, July 18 could help assure Volvo has both the raw materials like cobalt and lithium, as well as battery cell and production capacity to support its growth plans for battery-electric trucks.

The Swedish truck maker delivered its first battery-powered FE refuse truck and FL straight truck in February to European customers. It plans commercial sales of an electrified version of its VNR day cab model in the U.S. as soon as 2020.

Read the full article here.

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