Volvo CE Korea invests in a battery factory for sustainable construction

By OEM Update Editorial May 21, 2024 7:13 pm IST

Volvo CE in Korea has invested SEK 80 million ($7.8 million) in a 2,500-square-meter battery pack factory to promote sustainable practices in the construction industry, aiming to achieve fossil-free operations and electrify 35 percent of machine sales by 2030.

Volvo CE in Changwon, Korea, has presented an advanced battery pack factory for Volvo Group solutions.The ceremony, held on May 15, 2024, featured Volvo Group leaders, employees, and significant stakeholders.

Investment & Infrastructure Volvo CE has invested SEK 80 million ($7.8 million) in the creation of this new 2,500-square-meter facility, which is housed within the existing component workshop in Changwon and intends to advance sustainable practices in the construction industry.

Start of production Mass manufacture of the battery packs began on April 23rd, with the first batch scheduled for incorporation into Volvo CE’s new EC230 Electric excavator model. Volvo CE began mass manufacturing of electric excavators in April 2022. After completing this new facility, they will be able to create them in-house, from batteries to completed items, saving time and money on logistics.

Dignitaries and distinguished individuals attended the opening ceremony, including Andrew Knight, Managing Director of Volvo Group Korea, and Kamel Sid, Head of Operations at Volvo CE, among others. Their attendance emphasised the importance of this milestone in Volvo’s electrification strategy.

Sustainability and Future Outlook Volvo CE’s Head of Operations, Kamel Sid, highlighted the strategic importance of this investment in aligning with Volvo CE’s sustainability goals. With an ambitious target to achieve fossil-free operations and electrify 35 percent of machine sales by 2030, this facility represents a crucial step towards meeting customer demand for sustainable construction solutions.