Volvo targets $3 billion in autonomous revenue in next five years
Volvo Autonomous Solutions is targeting driverless on-highway operations in the United States by the first quarter of 2027 and expects to reach $3 billion in revenue by the end of 2031.
That was the message from Volvo Group at its Capital Markets Day in Sweden on June 10.
Last month, Volvo and Aurora Innovation announced the expansion of their autonomous freight network with a new 200-mile route between Dallas and Oklahoma City. Volvo also announced the start of autonomous freight operations with DSV in Texas.
Nils Jaeger, president of Volvo Autonomous Solutions, said autonomous trucks could double vehicle utilization by operating beyond the current hours-of-service rules for human drivers.
Also during Capital Markets Day, Mats Backman, Volvo’s chief financial officer, said that overall truck demand in North America was strong and that production was gradually increasing. He also said customer demand and deliveries remained stable in Europe.
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