AutoBeta(AutoBeta.net)05/17 Report--

On 15th, Volvo signed a long-term agreement with Ningde era and LG Chemical to ensure billions of dollars in power batteries for the next generation of SPA-based electric vehicles and its high-performance brand polestar over the next decade.

Just as Swedish manufacturers began to increase their exposure to new energy, Volvo has as many as 10 suppliers of battery packs to meet its electric car production needs, and last year the list of official cooperation was reduced to China's Ningde era and South Korea's LG Chemical.

The most critical aspect for Volvo is that suppliers can supply goods globally so that Volvo's production demand in Europe, America and China will not be affected.

Martina Buchhauser, senior vice president of Volvo Global Purchasing, said that our partners must be able to lead in quality and technology; project time and sustainability and openness

European suppliers are not on the list because they currently lack the global reach of China's CATL and South Korea's LG Chemical (LG Chem), both of which have or are building plants in Europe and Asia.

Buchhauser said Volvo would now work closely with CATL and LG Chemistry. She said the two companies would work closely with Volvo's research and development department to ensure that Volvo's electric transmission system "ranks among the industry leaders".

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