Volvo Penta acquires majority stake in ZEM

Volvo Penta is expanding its capabilities, experience, and range by becoming the majority shareholder of Norwegian marine battery and electric driveline solutions supplier ZEM.


“Joining forces with Volvo Penta marks the start of an exciting new phase for ZEM,” says Jan-Olaf Willums, founder of ZEM. “Our two companies are aligned on such core values as safety and environmental protection and we both have that Scandinavian pioneering spirit! Volvo Penta’s name and market reach will help propel us into new electromobility markets supporting our growth.”


ZEM will remain operating under its current brand, and under the leadership of Egil Mollestad, the long-term CEO of ZEM and a recognized pioneer in the maritime sector. The collaboration between Volvo Penta and ZEM is expected to grow gradually.

“I look forward to working with Volvo Penta. This will allow us to grow, with regards to both technology and channels for sales and aftermarket support,” says Egil Mollestad.


Although, ZEM will continue to grow its battery and complete driveline business, over time the two companies will create complete packages together.


“The switch from diesel-based technology to electrification will be a key element in our transformation, alongside other new technological advancements,” says Heléne Mellquist, President, Volvo Penta.


This is a summary of the official press release from Volvo Penta. Read the full article here.