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Press release
04/29/2021
Gothenburg, Sweden / Stuttgart, Germany – Today, two leaders of the commercial vehicle industry – Daimler Truck AG and Volvo Group – officially outlined their pioneering roadmap for the new fuel-cell joint venture cellcentric, as part of an industry-first commitment to accelerate the use of hydrogen-based fuel cells for long-haul trucks and beyond. With the ambition of becoming a leading global manufacturer of fuel-cell systems, cellcentric will build one of Europe’s largest planned series production of fuel-cell systems, with operation planned to commence in 2025. To accelerate the rollout of hydrogen-based fuel-cells, the two cellcentric shareholders call for a harmonized EU hydrogen policy framework to support the technology in becoming a viable commercial solution.
`Press release
04/26/2021
Volvo Group invests in Designwerk Technologies AG to complement electromobility capabilities
Volvo Group has signed definitive agreements to acquire 60 percent of Designwerk Technologies AG, an engineering company in Switzerland, that develops and sells electromobility products and engineering services within electromobility eco-systems. By investing in Designwerk Technologies, the Volvo Group will complement its current capabilities when it comes to niche products and solutions.
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“The first quarter of 2021 was characterized by high activity among our customers, which was reflected in good demand for both new products and services. Compared with the first quarter of 2020, our net sales increased by 3% to SEK 94.0 billion. The good sales volumes, not least in the service business, and our own measures to keep costs down contributed to the adjusted operating income improving to SEK 11.8 billion (7.1). The adjusted operating margin increased to a historically high 12.6% (7.8),” says Martin Lundstedt, President and CEO.
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With the sales start this year of three new heavy-duty all-electric models, Volvo Trucks believes the time is right for a rapid upswing in electrification of heavy road transport. This positive outlook is based on the ability of Volvo’s electric trucks to meet a broad variety of transport needs. In the EU for example, almost half of all truck transports could be electrified in the near future.
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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.
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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.
`Press release
04/08/2021
Volvo Group and SSAB to collaborate on the world’s first vehicles of fossil-free steel
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.
`Press release
04/01/2021
Volvo Group and Isuzu Motors complete UD Trucks transaction as part of the strategic alliance
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.
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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.
`Press release
03/30/2021
Volvo partners with Aurora to accelerate the deployment of autonomous transport solutions
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.
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