The Volvo Group has developed a new business area called Volvo Energy, which will be dedicated to accelerating electrification and will also work to give used electric batteries a second life.
The new business arm aims to strengthen the Volvo Group’s flow of batteries over the life cycle as well as the customer offering for charging infrastructure.
It will also help to reduce the environmental impact from electric and hybrid electric commercial vehicles and machines by finding new uses for old batteries, in different applications.
“There is a great and growing interest for electric vehicles and machines among our customers. This is of course very positive as it accelerates the transition towards more sustainable transport solutions. Our ambition is to offer our customers the most competitive solutions when it comes to electrification, including batteries and charging infrastructure. With Volvo Energy, we are taking a holistic view of the entire life cycle, which benefits both our customers’ business and society as a whole,” said Volvo Group President and CEO Martin Lundstedt.
The Volvo Group currently produces various electric trucks and buses. Locally, Volvo Trucks Australia recently announced the arrival of the first Volvo FL Electric on our shores, which will undergo trials with Linfox in coming months.
The rollout of electric vehicles from the Volvo Group is set to continue throughout 2021.
With the launch of Volvo Energy, hydrogen infrastructure solutions for fuel cell electric vehicles will also be included in the arm’s list of responsibilities.
Though Volvo Group asserts that commercial vehicle batteries will be used for many years before they need to be replaced or remanufactured/refurbished, once the time comes for a completely new battery, the used ones will find new uses.
Used batteries will generally still have considerable life left to offer, which makes them ideal for energy storage purposes, for example in buildings or in green energy production.
“With Volvo Energy, we are further increasing our focus on this important area. We are also giving vehicle batteries a second life, which is both a business opportunity and a way to contribute to the creation of a circular economy and a fossil free society,” Lundstedt added.