GÖTEBORG, Sweden, June 22,
2022 /PRNewswire/ -- At the Volvo Group's
Capital Markets Day today June 22,
2022, President and CEO Martin
Lundstedt and Group Management outlined the major business
opportunities in the ongoing technology shift that is expected to
accelerate the Group's sales growth.
Over the last decade, the Volvo Group has established an
industry-leading profitability and is now taking the next step on
its strategic journey. Growth is expected to accelerate with the
main driver being the higher value of the electric vehicles and
machines. With electric vehicles there is a potential to increase
the total vehicle and service revenues per unit by more than 50
percent over the lifecycle. Leveraging the Group's first-mover
advantage to gain market shares and broadening the services
offering are also expected to drive growth. While capturing these
growth opportunities, the Volvo Group's financial targets
remain.
"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," says
Martin Lundstedt, President and CEO
of the Volvo Group.
There is a strong pull from customers that want to partner up
with the Volvo Group to decarbonize both their own value chains and
those of their customers. The Volvo Group has the electric
products, services and solutions that can make this happen.
"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," says Martin Lundstedt.
A replay of the Capital Markets Day will be available at
www.volvogroup.com shortly.
June 22, 2022
Journalists wanting further information, please
contact:
Claes Eliasson, Volvo Group Media
Relations, +46 76 553 72 29
For more information, please visit volvogroup.com
For frequent updates, follow us on Twitter: @volvogroup
The Volvo Group drives prosperity through transport and
infrastructure solutions, offering trucks, buses, construction
equipment, power solutions for marine and industrial applications,
financing and services that increase our customers' uptime and
productivity. Founded in 1927, the Volvo Group is committed to
shaping the future landscape of sustainable transport and
infrastructure solutions. The Volvo Group is headquartered in
Gothenburg, Sweden, employs almost
95,000 people and serves customers in more than 190 markets. In
2021, net sales amounted to SEK 372
billion (EUR 37 billion).
Volvo shares are listed on Nasdaq Stockholm.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/ab-volvo/r/volvo-group-accelerates-to-grow-in-the-ongoing-industry-transformation,c3589931
The following files are available for download:
https://mb.cision.com/Main/39/3589931/1596018.pdf
|
220622-ab-volvo-capital-market-day-eng
|
https://news.cision.com/ab-volvo/i/1860x1050-news-common-volvo-sign,c3063684
|
1860x1050-news-common-volvo-sign
|
View original
content:https://www.prnewswire.com/news-releases/volvo-group-accelerates-to-grow-in-the-ongoing-industry-transformation-301572905.html
SOURCE AB Volvo