Volvo Cars to lower CO2 emissions and save billions in circular business aim
Volvo Cars aims for annual savings of SEK 1 billion and reductions of 2.5 million tonnes in carbon emissions from 2025 using circular business principles.Supporting the company’s long-term goal of becoming a circular business by 2040, Volvo Cars will create closed material loops for emission-heavy materials such as steel and aluminium, as well as remanufacture, repair, reuse and refurbish parts.“Volvo Cars has one of the most ambitious climate plans in the car industry, and if we are to reach our goals, we need to embrace the circular economy,” said Anders Kärrberg, head of global sustainability at Volvo Cars. This requires us to rethink everything we do and how we do it. We put a strong focus on integrating sustainability into the way we think and work as a company, and we are making it as important as safety has always been to us.To become a circular business by 2040, Volvo Cars is convinced that every part in its cars should be designed, developed and manufactured to be used and re-used, either by the company or its suppliers.By focusing on resource efficiency and retaining the value created in materials and components for as long as possible during the lifecycle, the company wants to optimise the use of materials, components and cars and eliminate waste in the process. This will lead to financial savings and new revenue streams as well as significantly lower our environmental impact.Already now, Volvo Cars remanufactures parts such as gearboxes and engines to make better use of material and reduce emissions. By using batteries in energy storage applications outside of cars, new revenue streams and cost savings can be realised while also extending the batteries’ lifecycles.Together with suppliers and partners, Volvo Cars is exploring the potential in second-life applications for its high voltage batteries. A current example is the collaboration with BatteryLoop, a company within the Swedish Stena Recycling Group that re-uses batteries from the automotive industry.BatteryLoop and Volvo Cars use batteries from electrified Volvo cars for a solar-powered energy storage system.
May 29, 2021 at 14:14