Volvo Group Press Releases

The Volvo Group will hold a Capital Markets Day on November 11, 2021. During the day, executive management will outline the Group’s strategic direction, which is built on the pillars Perform and Transform. This covers both the measures to continue to improve performance as well as the transformation journey towards new, sustainable solutions such as battery and fuel cell electric vehicles as well as autonomous solutions.

• 210414-volvo-group-invitation-cmd-2021-press-release-eng.pdf (PDF, 101 KB)

Volvo Trucks North America customer Quality Custom Distribution (QCD), a national food service logistics supplier, will deploy 14 Volvo VNR Electric models in its Southern California last-mile delivery routes over the next two years. The trucks, manufactured at Volvo Trucks’ New River Valley plant in Virginia, represent the largest single purchasing commitment of Volvo VNR Electric trucks to date. Volvo Trucks will begin delivering the Class 8 battery-electric trucks to QCD this fall to operate out of its distribution center in Fontana, California.

The Volvo Group report for the first quarter 2021 will be published on April 22, 2021, at 7.20 a.m. CEST. There will be a conference call for press and analysts starting at 9.00 a.m. CEST.

• 210408-volvo-group-invitation-q1-press-release-eng.pdf (PDF, 101 KB)

Volvo Group and SSAB have signed a collaboration agreement on research, development, serial production and commercialization of the world’s first vehicles to be made of fossil-free steel. Volvo plans already this year to start the production of concept vehicles and components from steel made by SSAB using hydrogen.

• 210408-ab-volvo-ssab-pressrelease-eng.pdf (PDF, 123 KB)

The Volvo Group and Isuzu Motors today completed the transaction whereby Isuzu Motors acquired UD Trucks from the Volvo Group for an enterprise value of JPY 243 billion (approximately SEK 19 billion) on a cash and debt free basis. The strategic alliance within commercial vehicles between the two groups, aiming to capture opportunities in the ongoing industry transformation, will now also become operational. The transaction is estimated to have a positive impact on the Volvo Group’s operating income in the second quarter 2021 of close to SEK 2 billion and increase the Volvo Group’s net cash position by approximately SEK 19 billion.

AB Volvo held its Annual General Meeting on March 31, 2021. Due to the extraordinary situation as a result of the COVID-19 pandemic, the Meeting was carried out through postal voting only, without any physical attendance. The Chairman and the President & CEO describe the Volvo Group’s situation and address questions from shareholders ahead of the Annual General Meeting in presentations that are available on AB Volvo’s website www.volvogroup.com.

Volvo Autonomous Solutions has partnered with Aurora to jointly develop globally leading autonomous transport solutions at scale. The partnership’s initial focus is to develop and deploy an autonomous transport solution for hub to hub applications for North America.

Volvo Group Venture Capital AB has invested in FourKites®, one of the leading global real-time transportation visibility platforms.

Volvo Group’s subsidiary Renault Trucks is pursuing its investment in electric mobility. From 2023, an all-electric Renault Trucks offer will be available for each segment, namely distribution, construction and long distance. To support these developments and be able to offer a complete and competitive Renault Trucks range on the market, the company is setting up an organisation dedicated to electric mobility. Renault Trucks is thereby confirming its commitment to fossil-free transport.

The global shortage of semiconductors will have a substantial impact on the Volvo Group’s production in the second quarter. In the beginning of the quarter, the Group will implement stop days across its global truck manufacturing operations. In total, these are currently estimated to between two and four weeks depending on production site. In addition, disturbances are also expected to impact the Group’s other business areas.