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Press release
2024-09-10
Volvo Group Venture Capital invests in aifleet, an AI-driven trucking company
Volvo Group Venture Capital AB invests in the U.S.-based company aifleet, a trucking company leveraging its unique AI-technology to reshape the future of trucking focusing on truck utilization and driver satisfaction.
Up to 600 km on one single charge. That’s how far Volvo’s next-generation heavy-duty electric truck will be able to drive. The longer range represents a breakthrough for long-distance transport with zero tailpipe emissions.
Press release
2024-08-30
Professor Johan Woxenius and Lund University awarded the Volvo scholarship Håkan Frisinger Prize
The Håkan Frisinger Foundation for Transportation Research has appointed Professor Johan Woxenius at the University of Gothenburg as this year's scholarship recipient. The prize includes a guest research program at Lund University. “We look forward to welcoming Johan Woxenius and jointly addressing important challenges in freight transport in the interaction between urban and rural areas,” says Henrik Pålsson, professor at Lund University.
The Volvo Group will build its new Mexican heavy-duty truck manufacturing plant in Monterrey. As announced on April 11, the plant will supplement the Group’s U.S. production and provide additional capacity to support the growth plans of both Volvo Trucks and Mack Trucks in the U.S. and Canadian markets, and Mack truck sales in Mexico and Latin America. The plant is expected to be operational in 2026.
“During Q2 2024, the Volvo Group delivered good profitability as demand in many markets continued to normalize compared with the high levels of 2023. Net sales amounted to SEK 140.2 billion, which adjusted for currency changes was on the same level as in the prior year. The adjusted operating income amounted to SEK 19.4 billion (21.9), with a margin of 13.9% (15.4). Lower volumes and our increased investments in R&D affected margins negatively, while carry-over from the price increases we implemented during last year continued to have a positive effect. Our service business grew by 5% adjusted for currency. On a rolling 12 month basis the service business generated revenues of SEK 130.3 billion,” says Martin Lundstedt, President and CEO.
The Volvo Group report for the second quarter 2024 will be published on July 18, at 7.20 a.m. CEST. There will be a conference call for press and analysts starting at 9.00 a.m. CEST.
Volvo Group has today completed the divestment of Arquus to John Cockerill Defense according to the previously announced option agreement.
The Volvo Group will hold a Capital Markets Day at Volvo Trucks’ operations in Dublin, Virginia, USA on November 14, 2024.
At Volvo Days 2024, Volvo Construction Equipment (Volvo CE) demonstrates its ambition to lead in sustainability and productivity by presenting pioneering launches and a fresh solutions-based approach – enabling sustainable change for customers in both regulated and less regulated markets.
Press release
2024-05-17
• Volvo Group and Daimler Truck share the ambition to lead transformation to software-defined heavy-duty commercial vehicles to enhance customer efficiency and experience. • Both companies intend to create a joint venture to become the leading developer of a software-defined heavy-duty vehicle platform, including software and hardware, providing the basis for differentiating digital vehicle features. • The new company is intended to be a 50/50 joint venture to be headquartered in Gothenburg, Sweden.
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