Volvo invests over $100 million to make electric motors in-house

Volvo has announced it will invest almost AU$110 million to set up its own in-house manufacturing of motors for electric cars. The Swedish-born car maker, which is today owned by Chinese company Geely, says it will equip its existing powertrain plant in Skövde, Sweden, to assemble and eventually manufacture e-motors before the middle of the decade.