Purchase of ZEM AS
Volvo Penta announced on June 2, 2021 its takeover of Norwegian company ZEM AS, a specialist in marine batteries and electric propulsion and motorization solutions. The Swedish leader in professional and recreational marine engines has acquired a majority stake in the company. Founded in 2009 by electric mobility pioneers, ZEM designs and delivers hybrid and battery electric storage systems for a wide range of marine applications, from ferries to lifeboats and offshore or aquaculture vessels. The company has equipped the Ryger Elektra, a battery-powered catamaran with a speed record.
Towards an integrated electric offer from Volvo Penta
The transaction is part of the decarbonization strategy presented by Volvo Penta's President, Helene Mellquist, "With this new acquisition, we are now able to offer propulsion solutions to our marine customers through ZEM and also contribute to the expansion of the electromobility footprint through the supply of batteries. This is a step forward in our transformation and will also allow Volvo Penta to seize new opportunities," says the executive.
Initially, the two brands will continue and the management of ZEM will remain unchanged. Joint packages for batteries and propulsion systems will be developed gradually.
