Asian Tech Press (Feb 8) -- Volvo Cars announced it will invest $1.1 billion in a Swedish car plant to accelerate its electrification.

Geely-backed Volvo said in a statement Tuesday that it will invest SEK 10 billion ($1.1 billion) at its Torslanda manufacturing plant in Gothenburg, in western Sweden, over the next few years to prepare for the production of pure electric vehicles.

The announcement comes after Volvo and battery maker Northvolt announced a joint battery plant in Gothenburg, as part of a total investment plan of about SEK 30 billion ($3.3 billion).

"Torslanda is our largest plant and will play a crucial role in our ongoing transformation as we move towards becoming a pure electric car maker by 2030," said Volvo Cars CEO Hakan Samuelsson.

As part of the planned investment, Volvo will introduce a number of new and more sustainable technologies and manufacturing processes at the Torslanda manufacturing plant, Volvo said in a statement. These include the introduction of mega casting of aluminium body parts, a new battery assembly plant and fully refurbished paint and final assembly shops.