Volvo Group

The Volvo Group is a leading global manufacturer of commercial vehicles such as trucks, buses, construction equipment, and marine and industrial engines. The company focuses on developing sustainable transport solutions that benefit its customers, shareholders, and society. Volvo Group's innovative technologies aim to enhance efficiency, safety, and customer experience.

In the second quarter of 2024, the company reported continued investments in driving innovation to maintain its position at the forefront of transforming its industries toward more sustainable solutions. Volvo Group's product lineup includes various vehicles equipped with electric, gasoline, and diesel powertrains, catering to diverse customer needs.

In May 2024, Volvo Group and Daimler Truck announced their intention to form a joint venture to develop a common software-defined vehicle platform and dedicated truck operating system. This collaboration aims to accelerate the digital transformation of commercial vehicles, enabling faster product updates and the introduction of differentiating digital features and services for customers.

Additionally, in September 2023, Volvo Cars (a separate company from Volvo Group) and Northvolt broke ground on a joint Li-ion battery gigafactory in Gothenburg, Sweden. With a potential annual capacity of up to 50 GWh, this facility is expected to be operational by late 2026 and could produce batteries for approximately half a million cars per year.