Volvo Automobiles laid out an in depth highway map to turning into a totally electrical automotive maker by 2030, together with plans to promote 600,000 battery electrical autos at mid-decade and construct a European battery gigafactory in 2026.

Volvo additionally mentioned it plans to equip a lot of its future autos with self-driving expertise, together with customary lidar sensors from Luminar Applied sciences and computer systems from Nvidia.

“Our purpose is to construct the most secure vehicles doable, utilizing all out there expertise,” CEO Hakan Samuelsson mentioned throughout a briefing on Wednesday on its electric business strategy.

Volvo unveiled the Idea Recharge previews the automaker’s subsequent technology of full-electric vehicles and the electric-only XC90 successor.

For its future electrical autos, Volvo is working with Swedish companion Northvolt on a brand new technology of batteries with larger power and designed to be packaged as a structural factor of the car.

The brand new batteries, due after 2025, will allow an extended driving vary between prices – as much as 625 miles (1,006 km) – and far sooner charging instances.

Volvo and Northvolt are planning to construct a European battery plant in 2026 with 50 gWh manufacturing capability – sufficient to produce 500,000 autos or extra, relying on battery measurement. Compared, Tesla Inc’s Nevada gigafactory has 35 gWh capability.

Samuelsson mentioned Volvo subsequent 12 months will unveil the primary of its new-generation electrical autos, a flagship SUV that may share its platform with extra fashions to observe.

The detailed presentation on Wednesday on Volvo’s future follows the scrapping earlier this 12 months of a proposed merger with the corporate’s Chinese language father or mother, Hong Kong-listed Geely Car. In March, Geely mentioned Volvo would discover capital market choices, together with an preliminary public providing and inventory market itemizing.