(Bloomberg) —
Electric-vehicle maker Polestar plans to partner with suppliers including Autoliv Inc. and ZF Friedrichshafen AG to build what it says will be a “truly” climate-neutral car.
The Sweden-based firm has signed letters of intent to work with SSAB AB on fossil-free steel, Norsk Hydro ASA on zero-carbon aluminum and Autoliv on emissions-free airbags and seat belts, it said Wednesday.
Similar plans exist with Germany’s ZF on power trains and ZKW Group on electrical control systems and wiring. The goal is to by 2030 develop a climate-neutral car by eliminating carbon from manufacturing and the supply chain — rather than planting trees to offset emissions.
“We are leveraging innovation and collaboration to address the climate crisis,” Chief Executive Officer Thomas Ingenlath said in a statement.
The automaker founded by Volvo Cars AB and its Chinese owner Zhejiang Geely Holding Group Co. said additional suppliers, researchers and investors are welcome to join the effort.
Polestar, which plans to go public in a $20 billion reverse merger with a blank-check firm this year, targets sales of 290,000 cars by mid-decade — a tenfold increase from last year. Industry leader Tesla Inc. delivered more than 936,000 vehicles in 2021.
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