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Volvo Car partners with Northvolt to make batteries, start gigafactory

STOCKHOLM, June 21 (Reuters) - Volvo Car Group, owned by China's Geely Holding, on Monday announced here plans for a joint venture with Swedish battery maker Northvolt to develop sustainable batteries for its electric cars and set up a gigafactory.

The companies aim to set up a research and development centre in Sweden that will begin operations in 2022, and start a gigafactory in Europe with a potential capacity of up to 50 gigawatt hours (GWh) per year in 2026. (Reporting by Supantha Mukherjee in Stockholm; Editing by Edmund Blair)

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