Volvo Group taking a big step into the energy business with its new venture, Volvo Cars Energy Solutions.

As EVs become more mainstream, they’re not just vehicles; they’re flexible energy storage systems.

This opens up exciting possibilities, like using your EV’s battery to power your home during peak hours when energy prices are high and recharging during off-peak hours.

Volvo plans to offer these energy storage and charging-related technologies and services.

The upcoming 2024 Volvo EX90 electric midsize SUV will be equipped with the hardware and smart software needed to facilitate these energy transfers.

This innovation not only benefits vehicle owners but also reduces the need for extensive grid investments, helping energy companies.

This initiative will start with a trial in Volvo’s hometown of Gothenburg, Sweden, in collaboration with Göteborg Energi Nät.

If successful, it will expand to more regions and countries.

Exciting times ahead for the EV industry and energy sector!

#ElectricVehicles #EnergySolutions #Innovation

Source: https://www.motorauthority.com/news/1141332_volvo-launches-energy-business