Volvo Group has announced the acquisition of a cutting-edge battery cell laboratory from NOVO Energy AB. This move is part of Volvo’s ongoing efforts to advance its green transformation and support the development of sustainable transport solutions.
The acquisition, effective from July 1, 2025, includes taking over the battery cell chemistry and material research team and facilities. The staff from NOVO R&D will be integrated into Volvo Group’s organization while remaining at their current location in Gothenburg.
Lars Stenqvist, CTO of Volvo Group, stated: “The acquisition means that this top-class competence will remain in Gothenburg and Sweden, strengthening the region’s competitiveness in clean technology. This is a great opportunity for us to further enhance our competence in battery cell chemistry and material research areas. It will be a very strong asset to succeed with our strategy towards being 100% fossil-free in 2040.”
For additional information, journalists can contact Claes Eliasson, Head of Media Relations at +46 76 553 7229 or via email at [email protected]. More details are available on volvogroup.com.
Volvo Group provides various transport and infrastructure solutions including trucks, buses, construction equipment, power solutions for marine and industrial applications, as well as financing services. Established in 1927 and headquartered in Gothenburg, Sweden, Volvo employs over 100,000 people worldwide. In 2024, its net sales reached SEK 527 billion (EUR 46 billion). The company’s shares are traded on Nasdaq Stockholm.
