Volvo Cars is launching Volvo Cars Energy Solutions, a completely new business unit that will offer energy storage and charging-related technologies and services. They will include bi-directional charging, a technology that allows an electric car to give back extra battery power to a compatible grid, helping to balance the grid during peak hours.
The fully electric EX90 SUV, will be the first Volvo car equipped with all the necessary hardware and (over time) software to enable bi-directional charging and direct energy storage from solar.
Over time, Volvo Cars Energy Solutions is expected to generate significant new revenues from energy-related products and services every year, as well as new products not previously offered by Volvo Cars.
He adds: “With the help of smart charging, you can charge your electric Volvo at the best available time from a sustainability and economy perspective. Now imagine you could use that energy later, perhaps during peak times when prices are higher and the energy mix less sustainable. The idea with building an energy ecosystem around your car and the batteries is that it allows you to save money and reduce your CO2 emissions, while energy firms benefit from reduced grid investments and a lower overall impact on the environment.”
Volvo Cars’ production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).