Volvo Trucks plans to share battery technology

Tinuku - Volvo Trucks is planning to share battery technology across brands for cost-efficiency development and production for critical components that have been expensive. The world's second largest truck maker on Monday said recent efforts aimed at boosting electricity supply.

Volvo Trucks, owned by Sweden's AB Volvo, said it would make perfect sense for brands that include Japan's UD Trucks and Mack Trucks in the United States to share battery technology as vehicle makers face increasing costs for developing low-emission vehicles and self-driving ability.

Tinuku Volvo Trucks plans to share battery technology

"We are really trying to reuse when expensive components, not only between truck brands but also buses and construction equipment, we get high volumes when reusing components across the group," said Lars Stenqvist, CEO of Volvo Group Trucks Technology.

The new technology has disrupted the traditional automotive industry where newcomer Tesal Inc. has entered the trucking industry and announced plans to start producing heavy-duty trucks by 2019. Volkswagen AG and Toyota Motor Corp announced earlier this month to form an alliance to reduce costs.

Daimler AG's Mitsubishi Fuso has started selling electric versions of Canter trucks in Japan and the United States last year and expansion into Europe earlier this year. UD Trucks earlier this month announced lithium-ion battery trucks, medium duty trucks in Europe by 2019, and an all-battery electric version for heavy-duty Quon trucks in 2020.