Volvo has made a ‘strategic investment’ in Bcomp, a company that makes lightweight materials from sustainable sources.
The investment has been made through the Swedish firm’s venture capital arm called Volvo Cars Tech Fund. The move has come from Volvo’s plan to use more natural fibre composites in its next generation of electric vehicles.
Bcomp says it uses flax fibres, which are a bio-based material that offer ‘significant savings in terms of weight, energy use and emissions versus regular plastic parts’.
Volvo aims to only sell electric vehicles by 2030, and wants to be climate-neutral as a company by 2040. Using Bcomp materials in vehicles is one of the steps it is taking to achieve this.
“We have a long tradition of partnering with leading technology firms such as Bcomp because we see joint benefits in helping them to scale and develop innovative products in global markets.”
Volvo and Bcomp have not disclosed financial details related to the investment, but have confirmed that Volvo’s sister firm Polestar will also look into using the sustainable materials in its electric cars, too.
