"The climate issue and increasing fuel prices make energy use and energy efficiency some of the most important societal issues of our time. The transportation industry has a special responsibility and this research and development co-operation with the U.S. Government is crucial in our efforts to develop the drivetrains and technology required by both our customers and society as a whole”, says Leif Johansson, CEO of the Volvo Group.
The US government and the Swedish Energy Agency intend to each invest a total of USD 9 M during the three years that the cooperation will be under way. The Volvo Group for its part has undertaken to invest an amount corresponding to USD 18 M, which means that the total investment in research and development within the framework of the cooperation agreement amounts to USD 36 M. As a result of the agreement signed last year, the Volvo Group is already involved in a number of projects. For example, the Volvo Group subsidiary Mack Trucks is participating.
June 30, 2008
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