Volvo Penta has announced it has acquired a majority stake in ZEM, a Norwegian supplier of marine battery systems and complete electric drivelines.
ZEM has delivered battery solutions for many different applications to date, including ferries, offshore supply vessels, high-speed passenger ships and lifeboats.
Volvo Penta will support the firm’s growth through its established network while ZEM’s experience will help the former company accelerate its development projects, expanding its range and capabilities in marine electromobility.
Volvo Penta has set out its ambition to reach net zero emissions through fossil-free, renewable fuels, electric and hybrid technologies, while continuing to provide efficient solutions to the marine industry.
Heléne Mellquist, President of Volvo Penta said: “Volvo Penta’s vision is to become a leader in sustainable power solutions, where we are driving transformation on land and at sea towards a more sustainable society.
“With this acquisition, we are now able to offer driveline solutions for marine customers through ZEM and also contribute to the broader marine electromobility footprint through battery supply. It is a step forward in our transformation and will also allow Volvo Penta to capture new opportunities.”