Government grant for E-drives at Skövde
The Swedish Environmental Protection Agency has approved a grant of almost SEK 150 million for the conversion of part of the Skövde plant to produce powertrains for electric vehicles.
The Aurobay plant is currently being used to assemble E-drives for Volvo Cars, alongside the full production of hybrid engines. The investment is required to support the conversion of the plant to enable complete in-house production of E-drives, which is set to begin around 2025.
The climate investment aid to Aurobay totals up to SEK 144,607,531, and will cover up to 40% of the cost of the conversion.
CEO, Michael Fleiss said, ‘We take great pride that Skövde is a state-of-the-art automotive factory. This multi-million investment will ensure the plant is futureproofed and help us take it to the next level.’