The Volvo Group, a Swedish multinational manufacturing company that specializes in transport and infrastructure solutions, has created Volvo Energy, a new business area that specializes in electrification. Joachim Rosenberg, executive board member of Volvo Group and chairman of UD Trucks, will head Volvo Energy.
Volvo Energy will have both an internal role, providing batteries and charging solutions to the Volvo Group’s other business areas, and an external role, offering used, remanufactured and refurbished batteries to customers for use across different applications. Volvo Energy will also focus on the group’s hydrogen infrastructure solutions for fuel cell-electric vehicles. The group’s offering of EVs ranges from city buses and trucks for waste management, construction and urban distribution to compact excavators and loaders.
“There is a growing interest for electric vehicles (EVs) among our customers,” says Martin Lundstedt, president and CEO of Volvo Group. “Volvo Energy will accelerate the transition towards more sustainable transport solutions. Our ambition is to offer our customers the most competitive solutions when it comes to electrification – including batteries and charging infrastructure. With Volvo Energy, we are taking a holistic view of the entire life cycle, which benefits both our customers’ businesses and society as a whole.”
The new business area will strengthen the Volvo Group’s business flow of batteries over the life cycle as well as charging infrastructure – the environmental impact from electric and hybrid-electric commercial vehicles will be reduced by giving used batteries a second life in different applications.
Commercial vehicle batteries can be used for many years before they need to be replaced or refurbished. However, if completely new batteries are fitted to a vehicle, the used ones usually still have considerable life left to offer, which makes them ideal for energy storage applications in buildings or green energy production.
For more information on Volvo Group’s newly formed business area, Volvo Energy, click here.