The demand for electric vehicles is increasing all over the world. In such a situation, companies are also taking steps to increase the production of electric vehicles. Swedish car maker Volvo Cars will invest around one billion euros at its historic Gothenburg plant in Sweden to convert production to electric cars, according to a news agency report. The company gave this information on Tuesday. Volvo, owned by Chinese auto maker Geely, announced last March that it would move to a 100% electric range by 2030. That is, the company will manufacture only electric vehicles. With this objective, the company will invest in electric vehicles in the coming year.
This factory, opened in 1964, is Volvo’s oldest and largest factory. It has about 6,500 employees, who produce 1,250 vehicles a day.
This investment has brought Volvo closer to its electrification strategy as the company announced the creation of a joint factory with Swedish battery maker Northvolt. It is near Gothenburg. This battery factory with part of 3 billion investment will give employment to 3 thousand people.
From the year 2019, Volvo Cars has restricted itself to selling only hybrid or all-electric models. It is one of the most advanced manufacturers of electric vehicles. Volvo is known for providing excellent security features in its vehicles. Recently, there were reports that the company is reportedly working on a new technology that will allow car owners to convert their car’s windshield into an interactive display.
The Swedish automobile giant has partnered with Israeli startup, Spectralics for this. This technology will provide Head Up Display (HUD) in the windshield of the car. The HUD display will show the driver all the necessary information, such as speed, navigation, timing, etc., on the windshield.
Car manufacturers around the world are rapidly moving towards adopting electric vehicles. For this the factories are being upgraded.
French company Renault is investing in the Douai site in Northern France. Similarly, Volkswagen is investing in Zwickau in Germany and the Japanese company Nissan is investing in Sunderland in England.