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Volvo Cars, Northvolt to build battery plant with 3,000 jobs

Northvolt's new facility in Skelleftea, Sweden.   STOCKHOLM — Automaker Volvo Cars and battery manufacturer Northvolt will build their joint battery plant in Gothenburg, western Sweden, the two companies said on Friday. The new 50-gigawatt-hour (GWh) plant will create up to 3,000 jobs and make battery cells specifically developed for use in pure electric Volvo and Polestar cars, the Sweden-based companies said. Operations will begin in 2025. The two companies said last year they would form a joint venture to develop batteries, including setting up a gigafactory for production and a research and development centre, a total investment of about 30 billion crowns ($3.3 billion). Northvolt and Volvo said former Tesla executive Adrian Clarke had been appointed to lead the production company. "He comes with a long experience from Tesla as well as around how to build these type of factories," Northvolt CEO Peter Carlsson, who also previously worked for Tesla, told Reuters. Volvo Cars head of engineering and operations, Javier Varela, said access to fossil-free energy, skills and infrastructure had been factors for choosing Gothenburg, Volvo's hometown. Competition for talent is fierce, with most battery engineers based in Asia. Tesla and Asian companies such as LG and Samsung SDI are also setting up factories in Europe. Northvolt's gigafactory in the Swedish town of Skelleftea assembled its first battery cell at the end of December, making it the first European company to design and manufacture a battery in Europe. Carlsson said it was running as planned, although he said global supply-chain problems, semiconductor shortages and the COVID-19 had made it more of a challenge. "It has not been the easiest of times," he said. Volvo Cars, majority owned by China's Geely Holding, aims to sell 50% pure electric cars by the middle of this decade and fully electric cars only by 2030. Northvolt, whose biggest shareholder is Volkswagen, has so far receive more than $30 billion worth of contracts from customers such as BMW, Fluence, Scania, Volkswagen, Volvo Cars and Polestar.  

Geely wants to be a tech-sharing 'friend' of Daimler in $9B bet

Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany's Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision," Li said. "Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler's innovation strength, strategy and future potential," the German company said in a statement. Geely officials plan to travel to Stuttgart to meet Daimler executives early next week and also hope to meet top German government officials in Berlin, two sources familiar with the matter told Reuters. The Chinese firm plans to use the meetings to underline that it intends to be a supportive long-term investor, they said. Daimler had no immediate comment on any meetings. Geely and the German economy ministry declined to comment. Chinese investors in German technology companies have tended to take a consensual approach, buying incremental stakes in companies such as robotics firms Kuka and Kion, typically after long consultation with management and other stakeholders. In November, Geely asked Daimler to issue new shares so it could buy a stake, as a way to access Mercedes-Benz technology for electric cars and trucks, including battery technology, to help Geely comply with a Chinese crackdown on pollution. But the German company turned down the offer saying it did not want to dilute existing shareholders, sources at the time told Reuters. Li changed tactics, and quietly amassed a stake of 9.69 percent worth $9 billion at Daimler's current share price.

Euro-market Volvo C40 Recharge and XC40 Recharge add efficiency, range

Volvo's tweaked the powertrain specs for the C40 Recharge and XC40 Recharge in Europe in both front- and all-wheel-drive trims. (We don't get the FWD versions here, only the AWD models.) First reported by CarsUK as a rumor, Autocar dug into the details after the new models hit some EU configurators. The big change there is that the front-drivers are now rear-drivers, engineers moving the single motor to the rear axle in the name of efficiency. The battery in the single-motor cars stays the same size at 67 kWh, but motor output rises from 228 horsepower to 235 hp. Even better, the C40 Recharge goes from an estimated 270 miles on a charge to 296 miles, the XC40 Recharge goes from an estimated 260 miles on a charge to 286 miles on the WLTP cycle. The AWD Recharge Twin trims get a larger battery, swapping the 78-kWh unit (75 kWh usable) for a 82-kWh unit (78 kWh usable). Their motors put out the same combined 402 hp as before, but do so with a rear bias. Instead of each motor making 201 hp, the front motor makes 161 hp, the rear 241 hp. Their ranges climb even more, the C40 gaining 37 miles of range to go an estimated 315 miles on a charge, the XC40 adding 42 miles to go an estimated 311 miles on the WLTP cycle. Volvo also upped the fast charging capability for the Recharge from 150 kW to 200 kW. The upgrade cuts the charge time from 10% to 80% by 10 minutes, to 27 minutes, matching the time required for the single-motor trims with the smaller battery to refill the same amount. The revised models can be ordered in Europe now but won't go into production until next year, the Recharge versions in May, the single-motor versions in autumn. Prices are up about 10%. It's thought the Polestar 2 will be in line for the same changes. We asked Volvo USA about the revisions coming to the U.S., aand  spokesperson responded, "We will have more details to share on the U.S. offer at a later date."