Volvo Electric Trucks Spark Expansion: Starts Serial Production In Ghent
Portfolio Pulse from Nabaparna Bhattacharya
Volvo Trucks, a division of Volvo AB (OTC:VLVLY), is increasing electric truck production and starting serial production of heavy battery electric trucks at its Ghent factory in Belgium. This is the fourth Volvo Trucks factory to produce battery electric trucks, with a yearly capacity of 45,000 trucks. The company has received orders for around 6,000 electric trucks in 42 countries. Volvo has also partnered with H2 Green Steel for near-zero emission steel, with production starting in 2025 and deliveries to Volvo starting in 2026.
September 14, 2023 | 11:35 am
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Volvo's increased production of electric trucks and partnership with H2 Green Steel for near-zero emission steel could potentially boost the company's position in the electric vehicle market.
The news of Volvo increasing its electric truck production and starting serial production at its largest factory indicates a strong commitment to the electric vehicle market. This, along with the partnership with H2 Green Steel for near-zero emission steel, could potentially boost Volvo's reputation as a sustainable vehicle manufacturer, which could positively impact its stock price.
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