Volvo Construction Equipment invests in battery pack production at excavator plant

GOTHENBURG, Sweden

,

Feb. 17, 2023

/PRNewswire/ —

Volvo Development Machines (Volvo CE) has declared an investment decision into battery pack manufacturing at its excavator plant in Changwon,

South Korea

, signaling as soon as once more its ambition to travel marketplace transformation with sustainable solutions.

The Changwon plant in

South Korea

specializes in the production of excavators and is the largest excavator manufacturing website in Volvo CE
The

SEK 80 million

(

$7.8 million

) investment decision from Volvo Team will enable the plant to commence manufacturing a large selection of battery pack remedies for the Volvo Team
This is a further significant action forward to the company’s Science Based mostly Targets initiative and its ambitions to be fossil free, with 35{64d42ef84185fe650eef13e078a399812999bbd8b8ee84343ab535e62a252847} of device product sales to be electric powered by 2030

With the

SEK 80 million

(close to

$7.8 million

) financial investment from Volvo Team, a new output facility and machines will be developed at the

Changwon

plant in

South Korea

– which at all-around 1.1 million sq. m is the largest excavator production web site in Volvo CE, producing all-around 55{64d42ef84185fe650eef13e078a399812999bbd8b8ee84343ab535e62a252847} of its overall excavator volumes.

The new facility at the Changwon plant will produce a extensive selection of common electrical storage solutions (battery packs) for Volvo Group and develop into a main competence middle for

electrical excavators

. This will enable Volvo Group to offer you additional sustainable options to its APAC marketplaces in a much more adaptable, price tag-productive and agile way and will contain offer chain, production and logistics.

Andy Knight

, Head of Operations Excavator and Running Director of Volvo Team Korea, suggests: “As the major plant in Volvo CE and the core website for excavator progress and production, Changwon is at the forefront of our shift to a sustainable long run.”

“This investment decision is an important milestone in our electrification roadmap and supports our recent investments in production facilities for electrical excavators. Changwon is preferably located near to battery module provide associates and other key suppliers in

South Korea

to satisfy the desires of clients in the future. We are also residence to a remarkably competent and inspired workforce who are thoroughly fully commited to conference our future environmental targets.”

The new production facility will be crafted within the present component workshop at Changwon – with no disruption to the present operation. After full the facility will be approximately 2,500 sq. meters including assembly and logistics locations. The building function will commence in

April 2023

, with battery pack manufacturing predicted to start in

June 2024

.

Coming before long right after an announcement to spend in the

creation of electric powered wheel loaders at its plant in Arvika,

Sweden

, and

electrical haulers from the firm’s manufacturing facility in Braås,

Sweden

, this is a further indicator that Volvo CE is dedicated to turning into wholly

fossil free of charge by 2040

– in line with the Paris Agreement and as laid out in its Science Based mostly Target goals. And it is using an additional step ahead in its ambition to renovate the business by way of electromobility and other more sustainable options.

Volvo CE has already successfully released compact electrical excavators to the worldwide market with the

ECR25 Electric

,

ECR18 Electric

,

EC18 Electric powered

and the

mid-dimension EC230

Electrical excavators. Collectively with its compact electric wheel loaders, Volvo CE has a person of the most significant electric powered ranges on the sector.

Journalists wanting further more details, please contact:

Åsa Alström

Head of Strategic Communications

Volvo Building Gear

[email protected]

For far more information and facts, you should go to www.volvoce.com

For frequent updates, adhere to us on

Twitter: @VolvoCEGlobal

LinkedIn: @Volvo Development Tools

Fb: @VolvoCEGlobal

Instagram: @VolvoCE’

YouTube: @Volvo Design Machines

Volvo Building Gear (Volvo CE) is a worldwide chief in development remedies, providing quality merchandise and services that incorporate power and performance with a far more sustainable way of operating. We are a organization pushed by individuals and together we have a goal: To develop the planet we want to stay in. Started in 1832 and with a distribution network across each major current market, our several devoted professionals all over the globe are fulfilling our shared reason by means of a concentration on sustainability, electromobility and products and services. As properly as our expanding selection of electrical machines and charging answers, Volvo CE gives market-primary haulers, loaders, excavators and a great deal additional, all crafted to suit the demands of our customers’ varied building and infrastructure wants. Volvo CE benefits from remaining connected to the Volvo Team, which also presents vans, buses, power remedies for marine and industrial purposes, financing and products and services that enhance our customers’ uptime and productivity. By its holistic viewpoint, Volvo Group is fully commited to shaping the potential landscape of sustainable transportation and infrastructure methods. For further more corporation details and to explore our values further more please check out

www.volvoce.com

.

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