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To meet the growing demand for battery electric heavy-duty vehicles and machines, the Volvo Group has initiated the process to establish a large-scale production plant for battery cells in Sweden.

“The Volvo Group continued to perform well in Q2 2022 with strong growth and improved profitability. We increased our net sales by 31% to SEK 118.9 billion with good momentum both in the sales of vehicles and in the service business. The adjusted operating income rose to SEK 13.7 billion (9.7) and we achieved an adjusted operating margin of 11.6% (10.7). Also in this quarter, we have had extra costs related to supply chain disruptions as well as higher costs for material and have continued to work proactively and successfully with price management to mitigate these effects. Our return on capital employed reached 26.8% (23.4),” says Martin Lundstedt, President and CEO.

Gothenburg, Sweden / Munich, Germany / Stuttgart, Germany – Today, the Volvo Group, Daimler Truck, and the TRATON GROUP completed the final step in forming the previously announced joint venture for charging infrastructure in Europe. The new joint venture, with Anja van Niersen as appointed CEO, is expected to have a significant role in supporting the European Union’s Green Deal for carbon-neutral freight transportation by 2050.