Volvo Cars Invests in Leadrive for Efficient Electric Propulsion Systems
Volvo Cars, the renowned automobile manufacturer, has recently announced its strategic investment in Leadrive, a Shanghai-based provider of power electronics and controls for electric vehicles (EVs). This move aims to strengthen Volvo’s position in the electric vehicle market and support its ambitious goal of becoming a fully electric car maker by 2030.
Leadrive, established in 2017, specializes in developing and producing silicon carbide (SiC) power modules, a cutting-edge technology that offers the potential for highly efficient and flexible electric propulsion systems. The company has previously collaborated with industry leaders such as Schaeffler and SAIC-Volkswagen on SiC e-axles. With Volvo’s investment, Leadrive can further expand its business and enhance the development of innovative SiC technologies.
The investment by Volvo Cars Tech Fund, the carmaker’s venture capital arm, has secured a small minority stake in Leadrive during its latest funding round. Although the exact amount of investment has not been disclosed, the partnership between the two companies is aligned with Volvo’s vertical integration and electrification roadmap. This investment reflects Volvo’s commitment to collaborating with relevant partners and making critical technology investments to advance the development of electric drivetrains.
Alexander Petrofski, CEO of the Volvo Cars Tech Fund, expressed his enthusiasm for the investment, stating that Leadrive’s technology holds significant potential for the creation of more efficient electric drivetrains. The collaboration between the two companies will contribute to Volvo’s focus on electrification and support its goal of producing fully electric vehicles in the near future.
Jie Shen, founder and CEO of Leadrive, also emphasized the positive working relationship between the two companies. He mentioned their close collaboration on the development of new generation SiC technologies, which has laid the foundation for this strategic partnership with Volvo.
Volvo’s investment in Leadrive is part of its broader strategy to enhance its capabilities in key areas such as batteries, electric motors, inverters, and battery management software. By controlling the entire electrical propulsion system in their fully electric cars, Volvo aims to offer their customers an exceptional driving experience with improved efficiency and performance.
The establishment of the Volvo Cars Tech Fund in 2018 has significantly contributed to the company’s transformative initiatives in various fields, including artificial intelligence, electrification, autonomous driving, sustainability, and digital commerce. This strategic investment in Leadrive further strengthens Volvo’s position in the EV market and reinforces its commitment to innovation and sustainable mobility.
In summary, Volvo Cars’ investment in Leadrive marks another significant step towards achieving its vision of becoming a leading player in the electric vehicle market. By collaborating with Leadrive and investing in crucial technologies, Volvo is positioning itself as a frontrunner in the development of efficient electric propulsion systems. This partnership undoubtedly highlights Volvo’s long-term commitment to electrification and its dedication to offering customers environmentally-friendly and technologically advanced vehicles.
