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Volvo Penta acquires majority stake in marine battery system supplier ZEM

Volvo Penta has become the majority shareholder of Norwegian marine battery and electric driveline supplier ZEM.

“Marine electromobility has a unique set of requirements,” explains Volvo Penta CTO Peter Granqvist. “There are very specific considerations of utmost importance around the installation environment, safety, the use case itself, and the current lack of charging infrastructure.”

ZEM’s core team has a background in electromobility that dates back to 1993. The company has delivered battery solutions to ferries, offshore supply vessels, high-speed passenger ships, lifeboats and the aquaculture sector.

ZEM will continue to operate under its current brand, and will continue to grow its battery and complete driveline business. Over time the two companies will create complete packages together. Volvo Penta will support ZEM’s growth through its established network, while ZEM’s experience will help Volvo Penta accelerate marine electromobility projects.

“Our two companies are aligned on such core values as safety and environmental protection and we both have that Scandinavian pioneering spirit!” says Jan-Olaf Willums, founder of ZEM. “Volvo Penta’s name and market reach will help propel us into new electromobility markets.”

“Volvo Penta’s vision is to become a leader in sustainable power solutions,” says Heléne Mellquist, President of Volvo Penta. “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.”

Source: Volvo Group

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