Volvo Group signs MoU with IISC to undertake Research and Innovation in Technology

The collaboration aims to strengthen the eco-system for innovation in India while undertaking important research in the automotive sector
Volvo Group signs MoU with IISC to undertake Research and Innovation in Technology

Volvo Group in India announced today that Volvo Group Trucks Technology (GTT), the global research, development and engineering arm of Volvo, and Indian Institute of Science (IISc) have entered into a memorandum of understanding (MoU). With this MoU, Volvo group and IISc will undertake research and development in future automotive technologies. The MoU was signed by Jan-Ove Östensen, VP Advanced Technology & Research, Volvo Group, and Mr. K. Paneer Selvam, In-charge Registrar, IISc.

Speaking on the occasion, Mr. Jan-Ove Östensen, VP Advanced Technology & Research, Volvo Group said “Innovation has always been a special strength of the Volvo Group. This initiative demonstrates Volvo Group’s commitment to continually work with academic institutions to innovate in research and to strengthen industry-academia collaboration globally," He also added, "With the agreement, Volvo Group and IISc will collaborate to strengthen the eco-system of innovation while undertaking important research in the automotive sector which is of mutual interest."

Prof. Y. Narahari, Chair, Division of Electrical Sciences, in supporting Volvo Group’s efforts noted, “This MoU is a significant event to foster strong linkage between Volvo Group and IISc, which is mutually beneficial with an aim to transform the landscape of transportation for societal and environmental benefit".

“Volvo Group has had an impactful 18 years in India. We believe we have been able to drive change across many segments, positively affecting the lives of our customers, passengers, drivers, operators, amongst various other stakeholders. In the emerging world, the road to progress is about collaborations and our partnership with IISC symbolises our ambition to foster research and development in order to fuel innovations - creating a positive impact on our society, while addressing the future demands of sustainable mobility.” Said Mr. Kamal Bali, Managing Director, Volvo India.

Volvo Group and IISc will collaborate on long-term research collaboration in selected technology areas. Other universities with which the Volvo Group collaborates globally include - Penn State University in the US; INSA in France; and Chalmers University of Technology; Mälardalen University and the University of Skövde in Sweden.

About the Volvo Group
The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 100,000 people, has production facilities in 18 countries and sells its products in more than 190 markets. In 2015 the Volvo Group’s sales amounted to about SEK 313 billion (EUR 33.4 billion). The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com

For more information, please contact...

Abraham Paul, +91 97312 22700, paul [dot] abraham [at] volvo [dot] com

Sharmistha Roy, +91 99166 00536, sharmistha [dot] roy [at] bm [dot] com