COPENHAGEN – Sweden’s Volvo, a global leader in electric trucks, said it would delay the construction start of its planned battery plant in Mariestad in Sweden.
It still needed to be made clear if this would also delay the start of production, a spokesperson said in an email to Reuters late on Thursday.
“We are looking over what would be an optimal time schedule for the construction of the factory. What we know now is that the building start will be 12-24 months later than the previous plan (2025),” the spokesperson said.
“We don’t know if this will bring any change to the production start/serial production, but the aim is to time the ramp-up of production with the demand of battery-electric applications and not build up a much larger operation than the market,” he said.
Volvo is currently handling the process independently but is in discussions with potential partners, he added.
(Source: Reuters)
Kevin Putnam is a financial journalist and editor based in New York. He specializes in editing news and analysis related to U.S. stock market.
