In the fall, on September 11, terrorists launched an attack that resulted in the total destruction of the World Trade Center in New York, shaking  the whole world. The final death toll was well over 3,000.

  • In January, AB Volvo acquired Renault Trucks and its subsidiary Mack Trucks in USA, and Volvo Global Trucks was formed. A complete renewal of the Volvo product program was carried out during 2001.
  • Volvo Aero becomes a risk-and-revenue sharing partner in two Rolls-Royce's engine programs.
  • Mack launched the new Granite, a versatile truck for construction applications.
  • Renault introduced the new Magnum and Midlum trucks.
  • Volvo Trucks launched its totally new Volvo FH and Volvo FM with a new 500-hp engine plus a revolutionary new automated transmission – I-Shift. The I-Shift set a new standard in the market for automated transmissions.
  • In 2001, the intercity and coach platform - TX - was rolled out to all European markets. Volvo Buses was awarded the "Bus builder of the year 2002" for its complete range of products.
  • Volvo CE introduced the new series of articulated haulers, the A25D and A30D, a new wheel loader, L220E, and a new compact crawler excavator, the EC55. And announced an extension of its product range within compact equipment with the development of its new backhoe loader and the acquisition of a range of skidsteer loaders.
  • Volvo Penta's product introductions  included the new marine leisure diesel engine KAD300 and the new D2-55 diesel engine for sailboats. The range of industrial engines was strengthened with the introduction of a new 12-liter engine and 5- to 7-liter engines for mobile applications. In the marine commercial segment a further developed 16-liter engine was launched.
  • Volvo Aero entered in Rolls-Royce's program for the development of the Trent 500 for Airbus 340- 400/600 and Trent 900, which will be mounted in Airbus' forth-coming A380 super-jumbo. Volvo Aero was also selected a strategic partner by Pratt & Whitney in the development of the new RL60 rocket engine. A new contract was signed for the manufacture of 23 Vulcain motors for the Ariane 5 rocket.
  • Volvo Financial Services started up as a new business area. It reorganized its operations and introduced new programs aimed at bolstering its customer finance portfolio. It also rolled out a variety of soft offers to Renault and Mack dealers and customers. Volvia's insurance operations were divested at a gain.