Volvo sees electric vehicles as opportunity to accelerate growth

by Today's Trucking

The higher value of electric trucks and machines will accelerate Volvo Group’s growth, the company said during its Capital Markets Day in Sweden June 22.

The company said electric trucks present the opportunity to increase total vehicle and service revenues by more than 50% over vehicle lifecycles.

Volvo sign
(Photo: Volvo Group)

“Climate change is the challenge of our generation. At the same time, demand for transport and infrastructure continues to grow and we must meet this demand with more sustainable solutions. In this changing landscape, we can lead the transformation and provide increased value for our customers and embark the Volvo Group on a growth journey driven by electrification, autonomous solutions and new productivity services. We are geared for growth,” said Martin Lundstedt, president and CEO of the Volvo Group.

He said there is a “strong pull” from customers who want electric vehicles so they can decarbonize their own value chains, and those of their customers.

“Our modular vehicle architectures will continue to serve us well, creating flexibility as well as cost and capital efficiencies in both R&D and the industrial system as we go through the transformation to electric and autonomous vehicles. We invest to win,” said Lundstedt.

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