The Swedish automaker said the alliance will cover joint development of battery packs specifically developed for its models.
While Samsung SDI intends to provide battery cells and modules to meet the demand for the automaker’s electric trucks, Volvo will utilize the battery pack technology for assembly in its plants.
“The alliance with Samsung SDI is an important step in our journey toward offering the world’s most truly sustainable transport system with fossil-free alternatives,” said Volvo Group President and CEO Martin Lundstedt.
Samsung SDI said the alliance will provide superior offerings pertaining to energy, safety and sustainability of the commercial vehicle industry.
“We are confident that this alliance will secure the market leadership of both companies in the long term,” said Samsung SDI CEO Jun Young-hyun.
Talks between the two firms to develop future-generation batteries dates back a couple of years.
In November, 2017, Volvo Trucks President Claes Nilsson told The Korea Herald that the firm was in talks with the South Korean tech giant to introduce electric trucks, as part of its vision for a “greener” future.
By Shin Ji-hye (email@example.com)