VOLVO, SIEMENS in electric car partnership
STOCKHOLM, Sweden (AP) — Swedish automaker Volvo Cars says it is joining forces with Germany’s Siemens AG in the development of a new line of electric cars.
Volvo, owned by China’s Geely Holding Group, says Siemens will make the electric motors that will be fitted into the Volvo C30 electric vehicles.
The deal covers the development of electrical drive technology, power electronics and charging technology.
The first line of cars will be tested at the end of this year and Volvo is expected to deliver a test series of some 200 cars to Siemens in early 2012.
Volvo Cars CEO Stefan Jacoby said yesterday the partnership would bring the technology of Volvo’s electric cars “up to an entirely new level.”
He added Volvo’s aim “is to be first with the latest technology within electrification.”
