Volvo Cars Launches new Energy Solutions Business for EV Owners

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.

Together with Göteborg Energi Nät AB, the local grid company in Gothenburg, Volvo is also launching one of the first vehicle-to-grid (V2G) pilot programmes that aims to test such V2G technologies on the local energy grid and in a home environment with real customers.

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.

Alexander Petrofski, the new head of Volvo Cars Energy Solutions, says: “With bi-directional charging, you can use your car battery as an extra energy supply, for example to provide power to your home, other electric devices or another electric Volvo car. The next step would be to enable this feature all around Sweden, and hopefully that will pave the way for even broader acceptance of similar charging and energy storage services around Europe.”

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).