Flexis OEM JV set for business in 2026
January 31, 2025
Renault Group, Volvo Group, and CMA CGM OEM joint €350 million project has signed 10 LOIs and expects serial production to begin next year.
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Volvo Cars takes full ownership of Novo Energy
January 29, 2025
The Swedish car manufacturer has signed a share purchase agreement relating to Northvolt’s shares in Novo Energy, leading to Volvo Cars taking full ownership of the Novo Energy joint venture.
Novo Energy restructures – reduces workforce by 30%
January 21, 2025
Novo Energy, the joint venture between Volvo Cars and Northvolt, has announced plans to cut costs and will reduce its workforce by 30%.
Volvo raising the bar for electric trucks
December 20, 2024
Amid a mood of cautious optimism, the launch of Volvo’s new FH Electric truck in 2025 is set to mark a milestone in the Swedish giant’s development with the market in need of a timely boost.
Northvolt files for bankruptcy in setback to Europe’s EV ambitions
November 22, 2024
Swedish EV battery maker Northvolt said it has only enough cash to support operations for about a week and it had secured USD 100 million in new financing for the bankruptcy process.
Scania in talks with EV battery suppliers, CEO says
November 18, 2024
Scania wants half of its vehicle sales to come from electric trucks by 2030. Currently, they make up less than 1% of sales, with the rollout hit by production and delivery problems at Northvolt.
Volvo Cars sells its stake in Lynk & Co to Zeekr
November 14, 2024
Volvo Cars is divesting its 30% stake in Lynk & Co to Zeekr, a transaction representing a consideration of RMB 5.4 billion (approximately EUR 707 million).
Volvo Cars looking to buy out Northvolt from Novo Energy
October 30, 2024
Volvo Cars says that the company is initiating a process to take full ownership of the Novo Energy joint venture.
Daimler and Volvo form JV to develop software-defined vehicle platform
October 29, 2024
The companies announced their intention to launch a joint venture to build a single software-defined vehicle platform and dedicated truck operating system earlier in May this year. The idea is that this platform will serve as the foundation for future software-defined commercial vehicles.
Hyundai Mobis to establish EV parts facility in Slovakia
October 17, 2024
The new plant in Novaky, Slovakia, will focus on producing PE systems, making it the South Korean company’s first European production base for this key electrification component.
Sweden puts Northvolt’s $1.5 billion funding guarantee on hold
October 07, 2024
Northvolt had agreed to a USD 5 billion green loan package with a group of lenders, intended to pay for a planned tripling of its battery-making capacity. This expansion has now been shelved.
Volvo delays construction of battery plant in Sweden
September 16, 2024
Construction for Volvo’s new battery production plant in Sweden was expected to start in 2025. But the start date has now been pushed back by between 12 and 24 months, the WSJ report said.
Volvo Cars adjusts its electrification ambitions
September 05, 2024
Volvo Cars has decided to adjust its electrification ambitions due to changing market conditions and customer demands. While the Swedish carmaker is still looking to become a fully electrified automotive company, the timeline has somewhat shifted.
The shift toward electrification gains momentum
August 28, 2024
Europe’s auto industry is rapidly shifting to electric vehicles as manufacturers race to meet ambitious green targets. With Tesla and Volkswagen leading the charge, the continent is embracing a new era of sustainable mobility.
Foreign rivals see opening as Ford adjusts EV strategy
August 23, 2024
The US automaker has shelved plans for its next all-electric SUVs and replaced them with hybrids that come with a better range when combined with gasoline engines.
Gothenburg's tech cluster strengthens Sweden’s automotive industry
August 13, 2024
With a growing tech sector and significant investments in electrification, Gothenburg has become a Swedish centre for innovation in the automotive industry. Here, traditional actors and new players meet to shape the mobility of the future.
Aira invests €300 millions in Poland
June 26, 2024
Swedish heat pump manufacturer Aira is investing EUR 300 million in Poland. The goal is to produce 500,000 heat pumps per year out of the new factory in Wroclaw.
SK Group and Geely partner up on eco-friendly mobility
June 21, 2024
South Korea’s investment conglomerate SK Group has signed a framework agreement for strategic cooperation with Zhejiang Geely covering batteries, automotive electronics components and green energy.
Volvo Cars starts production of fully electric EX90 SUV
June 06, 2024
Volvo Cars factory outside Charleston, South Carolina has now started building the company’s new electric flagship SUV – and the first customer deliveries are scheduled for the second half of this year.
NEV sales increase 16.9% in 1Q24, PHEV surge nearly 50%
May 30, 2024
According to TrendForce Global Automotive Reports, the global sales of NEVs (including BEVs, PHEVs, and FCEVs) surged to 2.842 million units in 1Q24—making a 16.9% YoY increase.
Volvo Cars invests in Breathe for next-gen fast charging
March 13, 2024
Volvo Cars has partnered up with Breathe Battery Technologies (Breathe), becoming the first car company to get access to the latest version of its patented, algorithm-enabled charging software.
Novo energy start building Sweden’s second, and Gothenburg’s first gigafactory
March 07, 2024
Novo Energy, the joint venture between Northvolt and Volvo Cars, has officially started the construction of its battery factory in Torslanda, Gothenburg near Volvo Cars' manufacturing plant.
Volvo Group plans to divest Arquus
January 17, 2024
Volvo Group has signed an option agreement with John Cockerill Defense which gives the Volvo Group the right to sell Arquus after mandatory consultations with staff representative bodies.
Northvolt raises $5 billion to expand its battery network
January 16, 2024
Swedish battery manufacturer Northvolt has just signed the largest green loan raised in Europe to date, which will facilitate the expansion of Europe's first homegrown gigafactory, Northvolt Ett, and also the realisation of Northvolt's plans for battery recycling.
Volvo invests in 1,300 ABB robots
January 04, 2024
ABB will supply Volvo Cars with more than 1,300 robots and functional packages to build the next generation of electric vehicles. This will support the Swedish car manufacturer to achieve its sustainability targets.
ZKW expands its site in Mexico
December 07, 2023
Lighting systems specialist continues to invest in the production plant in Silao, Mexico. As part of the opening of the new construction phase, the foundation stone for the next expansion is already being laid.
Volvo to acquire battery business from Proterra
November 15, 2023
Proterra Inc. and Proterra Operating Company Inc. are in a voluntary Chapter 11 bankruptcy process in the US. Volvo Group has been selected as the winning bidder in an auction for the business and assets of the Proterra Powered business unit at a purchase price of USD 210 million.
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Complete Liquidation of AURORA Lichtwerke Lamp Manufacturing Plant in Eichstätt, Germany
Maynards Europe in conjunction with Gordon Brothers was appointed by renown lamp manufacturing company Aurora, formerly part of Osram/Ledvance, to make available for sale by private treaty and online auction the complete production and facility equipment of their former manufacturing site in Eichstätt, Germany. Over 2000 items to offer including complete lamp production lines, complete SMT workshops, R&D and maintenance departments as well as general factory supplies and office equipment.
Rebound in mini LED product shipments in 2024
November 06, 2023
Due to declining demand in consumer electronics, shipments of Mini LED products are expected to decrease to 13.337 million units in 2023, says TrendForce. However, the market is projected to rebound in 2024, with shipments estimated at 13.792 million units, and the growth trend is expected to continue through 2027
Volvo Cars opens new software testing centre
October 19, 2023
The Swedish car manufacturer has for quite some time, and loudly, about its plans to be a fully electric car company by 2030. A plan that requires continuous investments. Now Volvo Cars is opening a new software testing centre in Sweden
The Polish electronics industry is anything but static
October 17, 2023
There’s been a lot of movement within the Polish electronics industry during the year. Evertiq has listed some of the bigger events that have taken place in the country during 2023.
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