News & Media

CRH, the global leader in building materials solutions, and Volvo Group, the leader in transport and infrastructure solutions, have signed a Memorandum of Understanding (MoU) to accelerate net-zero innovations in the design and deployment of on-road vehicles and off-road equipment used in construction with a focus on next generation technology deployment, scaling cutting-edge technology, and operational efficiency.

• Volvo-Group-and-CRH-agree-partnership-to-accelerate-decarbonization (PDF, 360 KB)

Proterra Inc. and Proterra Operating Company Inc. are in a voluntary Chapter 11 bankruptcy process in the US. Volvo Group has been selected as the winning bidder in an auction for the business and assets of the Proterra Powered business unit at a purchase price of USD 210M.

• Volvo-to-acquire-battery-business-from-Proterra-Inc.-and-Proterra-Operating-Company (PDF, 192 KB)

Press release from the Volvo Environment Prize Foundation, Oct 30, 2023 The vast Amazon region is central to the global debate on creating a stable climate and maintaining biodiversity. But we cannot deal with sustainability in Amazonia if we do not confront the rural and urban realities in the region of poverty, violence, and the need for economic development. That is the message from Eduardo Brondizio, a Brazilian-born Anthropologist Professor at Indiana University, Bloomington, USA, who is the Volvo Environment Prize laureate in 2023.

• Research-on-rural-and-urban-sustainability-in-Amazonia-rewarded-with-the-Volvo-Environment-Prize-2023 (PDF, 377 KB)

“In Q3 2023, the Volvo Group continued to deliver improved results, margins and profitability. Adjusted for currency, our net sales grew by 9% to SEK 132.4 billion and we increased the adjusted operating income to SEK 19.1 billion (11.9), corresponding to an adjusted operating margin of 14.4% (10.3). We have successfully mitigated cost inflation with price management and continued to handle disturbances in the supply chain. Return on capital employed increased to 33.7% (27.4),” says Martin Lundstedt, President and CEO.

• AB Volvo – Report on the third quarter 2023 (PDF, 1 MB)
• Press Release – Volvo Group - the third quarter 2023 (PDF, 296 KB)

Volvo Trucks North America has unveiled the company’s SuperTruck 2, with the debut on the company’s YouTube channel. The SuperTruck 2 program, a public-private partnership with the U.S. Department of Energy (DOE) tasked OEMs with achieving a 100% freight efficiency improvement over their submitted 2009 baseline. Despite the daunting supply chain challenges facing the advanced engineering team throughout the COVID-19 pandemic, Volvo Trucks not only achieved the DOE objective but exceeded expectations, achieving 134% increase in freight efficiency. Volvo Trucks’ SuperTruck 2 will make its first public appearance in the Volvo Trucks booth (#4097) at the American Trucking Associations’ 2023 Management Conference & Exhibition, taking place October 14-17 in Austin, TX, offering a glimpse at styling and engineering cues for future generations of trucks.

· Climate change accelerates the need of electrification transition, future CO2 regulations on transport of goods and access to cities are drastically transforming the logistic ecosystem.   · The professional customers already face increasing pressure on cost of usage, need for electrification safer and fully connected vehicles with their business. · By 2030, the European market for electrified vans will triple, promising a huge opportunity for a brand-new LCV offer, particularly addressing booming e-commerce and rental businesses. · Renault Group, Volvo Group and CMA CGM are joining forces to pioneer and lead this new market with an all-new generation of fully electric vans and associated services. · The pain points of the logistics players will be addressed with superior and safe solutions onboarding the new Software Defined Vehicle platform and a wide ecosystem of customized solutions. · Renault Group and Volvo Group sign binding agreements to launch a new company where they will initially hold respective 50-50 equity stakes, are planning to invest EUR 300 million each over the course of the next three years. CMA CGM Group signs a non-binding letter of intent with Renault Group and Volvo Group to join the new company, investing EUR 120 million through PULSE, its Energy Fund dedicated to accelerating the decarbonization of transport and logistics sectors. · The creation of the new company is expected early 2024 and remains subject to the completion of all regulatory approval processes. The future company is planned to operate under its own corporate identity and will be based in France.

• Volvo-Group--Renault-Group-and-CMA-CGM-Group-join-forces-with-an-all-new-generation-of-electric-vans (PDF, 840 KB)

A national network of public fast chargers for heavy electric trucks is opening in Sweden. The charging network is powered by renewable energy. A new service from Volvo Trucks makes it easy for haulers to find and access the charging stations.

• Breakthrough-for-fast-charging-of-electric-trucks---Volvo-Trucks-launches-new-service (PDF, 328 KB)

Volvo Defense, a business operation within Volvo Trucks, has entered a framework agreement with the Estonian Centre for Defence Investments and the Ministry of Defence of the Republic of Latvia for the delivery of logistic trucks. Volvo was chosen as one out of two suppliers that combined will deliver up to 3,000 vehicles over a period of 7 years.

• Volvo-Defense-enters-7-year-framework-agreement-for-deliveries-of-logistics-trucks-to-Estonia-and-Latvia (PDF, 235 KB)

The Volvo Group report for the third quarter 2023 will be published on October 18, 2023 at 7.20 a.m. CEST.

• Invitation-to-press-and-analyst-conference-in-Stockholm (PDF, 147 KB)

The number of votes in AB Volvo has changed due to the conversion of a total of two Series A shares to a total of two 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.

• New-number-of-votes-in-AB-Volvo (PDF, 167 KB)

Press release from AB Volvo’s Election Committee The Election Committee of AB Volvo proposes that Pär Boman be appointed new Chairman and Board member at the Annual General Meeting in March 2024. As previously announced, AB Volvo’s current Chairman of the Board Carl-Henric Svanberg has declined re-election.

• Pär-Boman-proposed-as-new-Chairman-of-AB-Volvo (PDF, 212 KB)

Håkan Frisinger Award for Excellence in Transportation Research awards its 2023 scholarship to Professor Lars Eriksson at Linköpings University. The scholarship rewards Lars Eriksson for his strong scientific record and his significant contribution to the transport industry. 

• Professor-Lars-Eriksson-awarded-with-Håkan-Frisingers-scholarship-for-his-significant-contributions-in-transportation-research (PDF, 337 KB)

Volvo Trucks ramps up electric truck volumes and starts serial production of heavy battery electric trucks at the Ghent factory in Belgium. This means that electric Volvo trucks are now built in four factories – three in Europe and one in the US.

• Ramping-up--Volvo-starts-serial-production-of-electric-trucks-in-Ghent (PDF, 296 KB)

Volvo Group’s collaboration with H2 Green Steel for near zero emission steel is another step forward on the continued journey towards a net zero GHG emission value chain by 2040.  Under the long-term agreement Volvo Group will purchase near zero emission steel from H2 Green Steel’s new plant in Boden in Northern Sweden. Start of production is planned for end of 2025 with deliveries to Volvo Group starting mid-2026. 

• Volvo-Group-secures-increased-volumes-of-near-zero-emissions-steel-through-collaboration-with-H2-Green-Steel (PDF, 265 KB)

Volvo Autonomous Solutions (V.A.S.) and Boliden have entered into a long-term collaboration to implement autonomous transport solutions as a part of Boliden’s operations. The collaboration will cover numerous projects including the deployment of autonomous transport solutions at Boliden’s Garpenberg site in Sweden.

• Volvo-enters-long-term-collaboration-with-Boliden-to-deploy-autonomous-solutions (PDF, 315 KB)

The number of votes in AB Volvo has changed due to the conversion of a total of 1,069 Series A shares to a total of 1,069 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.

• New-number-of-votes-in-AB-Volvo (PDF, 158 KB)

Anna Müller has been appointed as President Volvo Penta and member of Volvo Group management. She will replace Heléne Mellquist who will leave the Volvo Group to join the investment company Latour as Executive Vice President and Chief Operating Officer.

• Anna-Müller-new-President-Volvo-Penta-and-member-of-Volvo-Group-management (PDF, 145 KB)

Volvo Autonomous Solutions (V.A.S.) achieves industry-first milestone with the removal of the safety driver in an active commercial mining operation at Brönnöy Kalk mine in Velfjord, Norway.

• Volvo-Autonomous-Solutions-removes-safety-driver-at-Brönnöy-Kalk (PDF, 296 KB)

Carl-Henric Svanberg has declined re-election as Chairman of the AB Volvo Board of Directors. He will remain as Board Chairman until the Annual General Meeting to be held in March 2024.

• 230821-volvo-group-volvo-chairman-carl-henric-svanberg-declines-re-election-en (PDF, 214 KB)

“In Q2 2023, the Volvo Group continued to perform well, with continued growth and improved profitability. We increased our net sales by 18% to SEK 140.8 billion and the adjusted operating income by SEK 8.0 billion to SEK 21.7 billion, corresponding to an adjusted operating margin of 15.4% (11.6). Thanks to a strong commercial focus, we have been successful in improving margins while managing cost inflation and increased disturbances in the supply chain,” says Martin Lundstedt, President and CEO.

• AB Volvo – Report on the second quarter 2023 (PDF, 1 MB)
• Press Release – Volvo Group - the second quarter 2023 (PDF, 272 KB)