Volvo Group announced a strategic alliance with Samsung SDI to develop battery solutions for electric trucks.
The agreement envisions not only supply of lithium-ion cells as Samsung SDI will supply also battery modules and share its battery pack know-how for assembly in Volvo plants.
According to the press release, the partnership will allow Volvo to accelerate the development and strengthen the long-term capabilities.
"The alliance 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. The intention is that Volvo Group will utilize Samsung SDI’s battery pack technology for assembly in Volvo Group’s manufacturing operations."
Martin Lundstedt, President and CEO of the Volvo Group said:
“Volvo Group is one of the world’s largest manufacturers of commercial vehicles. 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,”.
Young-Hyun Jun, CEO Samsung SDI said:
“Samsung SDI is truly privileged to enter into a strategic alliance with the Volvo Group. 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,"
Andrea Fuder, Chief Purchasing Officer of the Volvo Group said:
“We welcome the expertise Samsung SDI brings into the Volvo Group. With this collaboration we are well-positioned to meet the increased market demands. By utilizing Samsung SDI’s strong battery technology knowledge, we have strengthened our powerful electromobility technology even further,”