Hints and tips:
Related Special Reports
...Polestar, Volvo’s upmarket EV brand, loses money. Volvo owns a 48 per cent share of Polestar. Its losses, plus those of other associates, weigh on group operating earnings....
...Volvo, which owns 48 per cent of Polestar, will consider offloading its shares in the company to Geely, it said on Thursday, which would make the group a significant shareholder in Polestar....
...Shares in Volvo were trading down 10.3 per cent on Friday, retreating from a previous drop of 14 per cent....
...Lex has argued that EVs will be a key pillar of the group’s value creation in future....
...In recent years, the ambitious Chinese group has listed shares in Volvo Cars, Polestar and ECARX....
...A Volvo AB representative told the Financial Times the transaction was a “voluntary divestment” as a result of the group’s working to liquidate its assets in Russia after the country’s full-scale invasion...
...The group, led by Volvo’s former China sales chief Fu Qiang and a former executive of state-owned carmaker SAIC, Gu Feng, established a subsidiary in Germany only five months after its inception....
...The Swedish group also recently announced a breakthrough in battery technology for energy storage where it developed a sodium-ion cell that has no lithium, cobalt or nickel — all critical metals that are...
...Volvo AB blasted a klaxon for investors on Wednesday. The Swedish truck and heavy equipment maker announced surprisingly strong preliminary profits for the first three months of 2023....
...Volvo Group overcame worries about waning demand and supply chain problems for truckmakers as the Swedish company posted record results more than a week earlier than scheduled....
...Carlsson leads a type of company that is unusual for Sweden, home to traditional manufacturers including Volvo, Atlas Copco, and SKF....
...Swedish truckmaker Volvo AB is already selling more electric trucks than rivals Daimler Truck or Traton....
...It is planning to open three more — one in co-operation with carmaker Volvo in Sweden, a second in northern Germany, and a third in North America, thanks to generous green subsidies from the Joe Biden administration...
...The company is already Europe’s largest homegrown battery manufacturer, with aims to build a second facility in Sweden’s Gothenburg alongside Volvo....
...Northvolt is also about to begin construction of a second “gigafactory” jointly with Volvo Cars in Gothenburg and will decide next month whether to build a third plant in Germany or in the US....
...Northvolt is considering whether to build its next factory — after two in Sweden, including one it owns jointly with Volvo — in Germany or the US....
...SSAB has already produced 500 tonnes of steel using the process, selling it to customers including compatriot Volvo Group, and is planning to transform its business with striking speed....
...The Swedish group is likely to build a factory in both the US and Germany eventually....
...The group, which is aiming to sell only electric cars by 2030, believes that a new factory can bring greater efficiency....
...Volvo’s effort to insulate its supply chain came as it reported that first-quarter sales dropped 20 per cent to 148,000 because of a shortage of chips....
...The fund, which has previously invested in battery group StoreDot, typically takes small stakes of up to 10 per cent in a business....
...The company owns a plant in Kaluga, 180km south-west of Moscow, that manufactures vehicles under the Volvo and Renault truck brands....
...He will leave the group to join Volvo this March. Volvo is the latest carmaker to choose a leader from outside the industry....
...The Swedish group plans to build three gigafactories in Sweden and Germany, as well as a cathode manufacturing plant and a recycling facility....
...Volvo Cars and Northvolt hope to take their $3bn battery partnership to the US and Asia as the Swedish groups aim to get a head-start on rivals while traditional carmakers step up their moves into electric...
International Edition