A Volvo XC40 Recharge car on display at the 38th Thailand International Motor Expo 2021.
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Volvo Cars and Northvolt said Friday they would build a battery manufacturing plant in Gothenburg, Sweden, with construction set to begin in 2023.
According to the companies, the facility is set to “have a potential annual cell production capacity of up to 50 gigawatt hours.” This would equate to supplying enough batteries for around 500,000 cars every year, they said.
The batteries produced by the plant will be “specifically developed” so they can be used in fully-electric cars from Volvo and Polestar, which is joint owned by Volvo Cars and…