Volvo is taking a big step towards a cleaner future for electric vehicles (EVs) by partnering with battery company CATL. They’re teaming up to recycle old EV batteries and use the materials to create new ones! This will help reduce the environmental impact of EVs throughout their lifetime.
Volvo is serious about electric cars. They’ve already stopped making diesel-powered vehicles and are seeing strong growth in EV sales. Last year, electric cars made up 16% of their total sales, and that number is expected to climb even higher in 2024.
The launch of their new, low-cost EX30 electric SUV is a game-changer. Starting at $34,950 in the US, it makes EVs more accessible to many drivers. This is reflected in Volvo’s sales figures, with electric vehicles now accounting for a significant portion (23%) of their total sales in March 2024.
Volvo Doubles Down on Electric Cars with Battery Recycling Plan
Volvo is accelerating its electric vehicle (EV) push with a two-pronged approach:
Greener Batteries: Partnering with battery giant CATL, Volvo aims to give old EV batteries a second life. Volvo suppliers will extract over 90% of key materials like nickel and lithium from used batteries. CATL will then use these recycled materials to create new EV batteries for future Volvo cars. This reduces the environmental impact of EVs and promotes sustainability.
Electric Cars Take Over: They’ve already stopped making diesel cars and are aiming for half of their total sales to be electric vehicles by the end of 2025. By 2030, they plan to go completely electric! This bold move aligns with their partnership with CATL to ensure a steady supply of sustainable batteries for their growing fleet of electric cars.
This innovative partnership between Volvo and CATL paves the way for a cleaner future for electric vehicles.
