Volvo signs big battery supply deals with CATL and LG Chem

Volvo Car Group has signed long-term agreements with leading battery makers CATL and LG Chem to ensure the multi-billion dollar supply of lithium ion batteries over the coming decade for next-generation Volvo and Polestar models. The agreements cover the global supply of battery modules for all models on the upcoming SPA2 and the existing CMA modular vehicle platforms, and according to the company, represent a major step towards realising Volvo Cars’ ambitious electrification strategy.