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Press release
2024-10-28
· Volvo Group and Daimler Truck have signed a binding agreement to establish a new 50/50 joint venture to develop a software-defined vehicle platform for heavy duty vehicles and drive the industry transformation. · The new company aims to set an industry standard with headquarters in Gothenburg, Sweden. · The common goal of the partners is to develop a truck operating system and to offer the joint venture's brand- and versatile application-agnostic products to other commercial vehicle OEMs. · Volvo Group and Daimler Truck will remain competitors in all other business areas and will continue to focus on an independent product and service offering, including the respective differentiating digital customer offerings.
“In Q3 2024, demand continued to normalize on most of the Volvo Group’s markets. We are seeing that freight and construction activity has come down in many regions across the world compared with the very high levels of last year. Our net sales decreased by 7% when adjusted for currency and amounted to SEK 117.0 billion (132.3). Sales of vehicles were 11% lower than last year while sales of services remained resilient and increased by 4%. We continued to generate good profits on the lower sales volumes with an adjusted operating income of SEK 14.1 billion (19.3) and a margin of 12.0% (14.4) thanks to hard work by our colleagues and business partners,” says Martin Lundstedt, President and CEO.
The Volvo Group report for the third quarter 2024 will be published on October 18, 2024 at 7.20 a.m. CEST.
After many years of service Joachim Rosenberg has decided to resign from his role as member of the Volvo Group Executive Board, EVP Strategic Initiatives and President of Volvo Energy. His managerial assignments within the Group will be distributed to other members of the Volvo Group Executive Board.
Press release from the Volvo Environment Prize Foundation Governments and organizations meet year-round to make crucial decisions to solve global environmental problems. Why, then, is progress so slow? This is the research area of Frank Biermann, a political scientist who proposes a reformed United Nations and new institutions to reach sustainability goals. He is awarded the Volvo Environment Prize 2024 (http://www.environment-prize.com/) for his research on environmental governance.
Press release
2024-09-10
Volvo Group Venture Capital invests in aifleet, an AI-driven trucking company
Volvo Group Venture Capital AB invests in the U.S.-based company aifleet, a trucking company leveraging its unique AI-technology to reshape the future of trucking focusing on truck utilization and driver satisfaction.
Up to 600 km on one single charge. That’s how far Volvo’s next-generation heavy-duty electric truck will be able to drive. The longer range represents a breakthrough for long-distance transport with zero tailpipe emissions.
Press release
2024-08-30
Professor Johan Woxenius and Lund University awarded the Volvo scholarship Håkan Frisinger Prize
The Håkan Frisinger Foundation for Transportation Research has appointed Professor Johan Woxenius at the University of Gothenburg as this year's scholarship recipient. The prize includes a guest research program at Lund University. “We look forward to welcoming Johan Woxenius and jointly addressing important challenges in freight transport in the interaction between urban and rural areas,” says Henrik Pålsson, professor at Lund University.
The Volvo Group will build its new Mexican heavy-duty truck manufacturing plant in Monterrey. As announced on April 11, the plant will supplement the Group’s U.S. production and provide additional capacity to support the growth plans of both Volvo Trucks and Mack Trucks in the U.S. and Canadian markets, and Mack truck sales in Mexico and Latin America. The plant is expected to be operational in 2026.
“During Q2 2024, the Volvo Group delivered good profitability as demand in many markets continued to normalize compared with the high levels of 2023. Net sales amounted to SEK 140.2 billion, which adjusted for currency changes was on the same level as in the prior year. The adjusted operating income amounted to SEK 19.4 billion (21.9), with a margin of 13.9% (15.4). Lower volumes and our increased investments in R&D affected margins negatively, while carry-over from the price increases we implemented during last year continued to have a positive effect. Our service business grew by 5% adjusted for currency. On a rolling 12 month basis the service business generated revenues of SEK 130.3 billion,” says Martin Lundstedt, President and CEO.
The Volvo Group report for the second quarter 2024 will be published on July 18, at 7.20 a.m. CEST. There will be a conference call for press and analysts starting at 9.00 a.m. CEST.
Volvo Group has today completed the divestment of Arquus to John Cockerill Defense according to the previously announced option agreement.
The Volvo Group will hold a Capital Markets Day at Volvo Trucks’ operations in Dublin, Virginia, USA on November 14, 2024.
At Volvo Days 2024, Volvo Construction Equipment (Volvo CE) demonstrates its ambition to lead in sustainability and productivity by presenting pioneering launches and a fresh solutions-based approach – enabling sustainable change for customers in both regulated and less regulated markets.
Press release
2024-05-17
• Volvo Group and Daimler Truck share the ambition to lead transformation to software-defined heavy-duty commercial vehicles to enhance customer efficiency and experience. • Both companies intend to create a joint venture to become the leading developer of a software-defined heavy-duty vehicle platform, including software and hardware, providing the basis for differentiating digital vehicle features. • The new company is intended to be a 50/50 joint venture to be headquartered in Gothenburg, Sweden.
The Assar Gabrielsson Foundation has awarded Anna Wenger as the winner in the basic science research category and Sara Bjursten as the winner in the clinical research category. The prize recipients are rewarded with SEK 100,000 each as extra research grants, administered by the Sahlgrenska Academy at the University of Gothenburg.
The number of votes in AB Volvo has changed due to the conversion of a total of 100 Series A shares to a total of 100 Series B shares. The conversions were implemented with the support of the opportunity for Series A shareholders to request conversion of Series A shares to Series B shares which was entered in the Articles of Association at the 2011 Annual General Meeting.
“During Q1 2024, demand continued to normalize at good levels across many of the Volvo Group’s markets. Adjusted for currency, net sales were on the same level as in Q1 2023 and amounted to SEK 131.2 billion. Invoiced price continued to increase, mainly on the back of carry-over from the price increases we gradually implemented last year. Adjusted operating income amounted to SEK 18.2 billion (18.6), which corresponds to a margin of 13.8% (14.0). Return on capital employed improved to 37.7% (30.3). We continue to prioritize quality in the business,” says Martin Lundstedt, President and CEO.
The Volvo Group today announced that it will build a new heavy-duty truck manufacturing plant in Mexico to supplement the Group’s U.S. production. The plant will provide additional capacity to support the growth plans of both Volvo Trucks and Mack Trucks in the U.S. and Canadian markets, and support Mack truck sales in Mexico and Latin America. The plant is expected to be operational in 2026.
The Volvo Group report for the first quarter 2024 will be published on April 17, at 7.20 a.m. CEST. There will be a conference call for press and analysts starting at 9.00 a.m. CEST.
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In the dynamic world of corporate-startup collaborations, the terminology used to describe the CampX programs can significantly impact their perception and effectiveness.
The future is coming, whether we want it to or not. But if we can anticipate it, we can also navigate better. This is why strategic foresight is crucial. Strategic foresight is a systematic and forward-looking approach to understanding, anticipating, and planning the future. It involves the exploration and analysis of potential future scenarios, trends and uncertainties to help organizations and individuals make informed decisions and develop strategies that are resilient and adaptable. As a senior foresight manager at Volvo Group Connected Solutions Innovation Lab, I have been at the forefront of this transformation, driving change and practicing strategic foresight.
The innovation landscape is vast, and you can easily get lost in blockchain projects, virtual reality experiences and AI platforms. Choosing an innovation approach is an important part of your innovation strategy, it can guide you like a north star and makes it easier to stay on your innovation course. In this article we explain why we chose a human-centric approach at CampX.
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Senior Vice President Media Relations,
Volvo Group Headquarters
Phone: +46 765 537229
E-mail: press@volvo.com
Senior Vice President Communications,
Volvo Group North America
Phone: +1 (336) 543-9094
Email: john.mies@volvo.com
Public Relation and Media Manager,
Volvo Group Australia
Phone: +61 436 681 117
Email: matthew.wood@volvo.com
