Volvo to build battery modules plant in Belgium

Volvo Group,  announced on Wednesday that production of battery modules would begin in 2025 at its facility in Ghent, Belgium. The Volvo Group stated in a statement that the investment decision to build a battery module manufacturing facility in Ghent was "another key step for the Volvo Group to develop its future value chain for battery systems." According to Volvo Group, the new production line will be able to employ battery cells from partners as well as from a planned battery cell factory in Sweden. It stated that the establishment process had begun and that the initial module production investment budget was 75 million euros ($75.09 million). A dollar amount for the entire investment was not provided. It was stated that the new 12,000 square meter facility would be virtually entirely automated. By 2030, Volvo Group hopes that at least 35% of all new cars sold will be electrified. Heavy-duty electric vehicles are manufactured at its Gothenburg, Sweden, facility, and the Ghent truck factory will begin producing them as well in 2019.