Volvo announced on Wednesday that it had signed long-term battery supply agreements with two Asian manufacturers: South Korea's LG Chem and China's Contemporary Amperex Technology Co Ltd (CATL).
Volvo, owned by Chinese auto giant Geely, produces electric cars under its own brand as well as under the Polestar brand. Its main competitors in the rapidly expanding electric vehicle market currently include Volkswagen, Tesla and General Motors.
Hakan Samuelsson, President and CEO of Volvo Cars, noting that electric cars are the future of the industry, said that the company intends to actively develop this area.
Source: 3dnews.ru