Volvo

Volvo leads 50 companies urging EU to stick to combustion-engine ban

The 2035 target is crucial to align all stakeholders on this journey and ensure European competitiveness

Swedish automaker Volvo Cars slashes its margin and revenue ambitions

Volvo Cars, which is majority-owned by China's Geely, lowered its target for operating profit margin

Volvo to launch long-range variant of FH Electric truck with 600-km range

The new model, expected to hit the market in the second half of 2025, caters to customers requiring longer hauls by maximizing battery space while improving the truck's software

Volvo's Q2 EBIT beats estimates, but cuts full-year forecast citing tariffs

Volvo Cars produced 211,900 cars in the second quarter, more than they sold, as demand for electric cars in Europe has dropped.

Truckmaker Volvo beats profit expectations but says demand is easing

Volvo said profit margins were squeezed by lower sales volumes and increased investment in research and development

Tesla's best-selling Model Y for 1st time on Chinese govt purchase list

China's eastern Jiangsu provincial government published 56 batches of new energy vehicle procurements for use as service cars by party

Planning to double market share in country, says Volvo CE India MD

Volvo CE India, a subsidiary of the Swedish Volvo group, aims to double market share in the segments it operates in the country, a top company official said on Wednesday. "We are present in 40 per cent of the earth moving and construction equipment (CE) segment in India. The company has a market share of 6.5 per cent and we plan to double this in the coming years, Managing Director Dimitrov Krishnan said here. Krishnan was speaking to reporters on the sidelines of the launch of its 20-tonne class hydraulic excavator. He said the CE sector in India is growing fast with the development of infrastructure. Quoting figures compiled by the Indian Construction Equipment Manufacturers' Association (ICEMA), Krishnan said in 2023-24, the size of the CE industry in India in volume terms was 1,36,000 units with a value of around Rs 85,000 crore. "This, according to ICEMA, is going to double by 2030, he said. Krishnan said India's CE market is the most competitive with the presence of several

Volvo to issue world's first EV battery passport ahead of EU regulations

Volvo owners can access a simplified version of the passport using a QR code on the inside of the driver's door

VE Commercial Vehicles total sales decline 18.1% to 5,377 units April

Eicher Motors Ltd on Wednesday said its arm VE Commercial Vehicles Ltd posted an 18.1 per cent year-on-year decline in total sales to 5,377 units in April 2024. VE Commercial Vehicles (VECV) -- a joint venture of the Volvo Group and Eicher Motors -- sold 6,567 units in April 2023, Eicher Motors said in a regulatory filing. April 2024 sales included 5,254 units of the Eicher brand and 123 units of the Volvo label, it added. In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 4,898 units last month compared to 6,142 units in April 2023. Exports of Eicher branded trucks and buses rose 38.5 per cent to 356 units compared to 257 units in April 2023, it added.

Volvo says will minutely examine C40 Recharge EV to ascertain cause of fire

Luxury carmaker Volvo Car India on Tuesday said it will "minutely" examine the C40 Recharge electric SUV which caught fire in Chhattisgarh last week. While confirming the incident, the company said technical experts will try to ascertain the cause of the fire in the car while being driven. "At Volvo Cars we pride ourselves on the safety of our cars and have taken this incident very seriously. The said vehicle will be minutely examined by our technical experts to ascertain the cause," the automaker said in a statement. The company is in touch with and continues to support the customer, it added. The Swedish carmaker noted that the embedded safety features informed the driver to take the car aside and step out of the car. There were no injuries and all occupants were safe, it added. The price of C40 Recharge starts from Rs 62.95 lakh (ex-showroom).

Volvo Bus India bags order for 122 premium coaches from Odisha govt

Volvo Bus India on Thursday said it has bagged an order for the supply of 122 premium luxury coaches from the Odisha government. The order comes under the Location Accessible Multi-modal Initiative (LAccMI) Scheme, a flagship programme initiated by the state government to provide rural connectivity through Odisha State Road Transport Corporation (OSRTC). "We are honoured to be selected as the preferred partner for this landmark initiative by OSRTC and the Government of Odisha," VE Commercial Vehicles MD and CEO Vinod Aggarwal said in a statement. OSRTC MD Diptesh Kumar Pattnayak said the collaboration for the deployment of premium buses is a testament to the shared vision of creating a modern, efficient, and sustainable public transportation network. "This will have a long-lasting impact on government initiatives that aim to transform transportation infrastructure and contribute to the socio-economic development in rural and urban areas," he added. Over the past 25 years, Volvo Bu

Automobile major VECV sales grow over 11% to 8,026 units in Dec 2023

Eicher Motors Ltd on Monday said its arm VE Commercial Vehicles Ltd posted an 11.1 per cent growth in total sales at 8,026 units in December 2023. VE Commercial Vehicles (VECV), a joint venture of the Volvo Group and Eicher Motors, had sold 7,221 units in December 2022, Eicher Motors said in a regulatory filing. December 2023 sales included 7,789 units of the Eicher brand and 237 units of the Volvo brand, it added. In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 7,468 units last month as compared to 6,671 units in December 2022. Exports of Eicher branded trucks and buses were down 3.3 per cent at 321 units as against 332 units in December 2022, it added.

'Volvo India aims to have 50% vehicles to run on non-fossil fuel by 2030'

Volvo India aims to have 50 per cent of its vehicles to be powered with non-fossil fuels by 2030, a senior company official said on Thursday. While speaking at Digital Acceleration and Transformation Expo (DATE), Volvo Group President and Managing Director in India Kamal Bali said that the company has set a target to become net zero in terms of carbon emission by 2040. "At Volvo, we have set target that by 2030, 50 per cent of our vehicles will be non-fossil fuel-based. They will be non-polluting. Balance 50 per cent will become non-zero emission by 2040," Bali said. He said that transport industry accounts for 20 per cent of world's total green house gas emissions and if automobile companies take pledge to reduce emissions then it will bring huge change in the environment. "We have also taken pledge that 35 per cent of all employees at leadership level and other levels will be women. We see this as part of sustainability," Bali said.

Old and new fuel vehicles will have place 'side by side': VECV MD & CEO

VECV's Eicher unit witnessed a 15 per cent year-on-year growth in sales, reaching 36,178 units in the first half of the current financial year

Nestle, Volvo among 130 firms urging COP28 agreement to ditch fossil fuels

"To decarbonise the global energy system, we need to ramp up clean energy as fast as we phase out the use and production of fossil fuels," they wrote

Volvo to end diesel car production by 2024, to become all-electric carmaker

Sales of diesel models have declined rapidly in Europe since Volkswagen's emission-cheating scandal.

Volvo Car India expects 'good' festival season for domestic auto industry

With improved supply chain situation and positive economic sentiment, Swedish car maker Volvo expects the upcoming festival season to be "good" for India's automobile industry. A top executive of Volvo Car India has said that price parity is being slowly seen between electric cars and ICE (Internal Combustion Engine) cars. Volvo Car India on Monday launched its first ground up electric car C40 Recharge here at an introductory price of Rs 61.25 lakh (excluding taxes). "We have been through a pandemic (in the) last two years. Then we had supply (chain) challenges. This year, it looks normal... If you look at the overall economy, there is generally a very positive sentiment. I think it (festive season) should be really good," Volvo Car India Managing Director Jyoti Malhotra said. The luxury car segment sales are expected to return to the 2018 peak this year, after going through a rough road during the pandemic years, he said, adding that the supply chain situation has improved though

India can become $7 trn economy by 2030: Volvo Group president Kamal Bali

India can become a USD 7 trillion economy, doubling its current size, by 2030, and the impact of this economic expansion will also be felt on an individual level with per capita income expected to surge, Volvo Group India president and managing director Kamal Bali said on Friday. India is the fifth-largest economy, with a GDP of over USD 3.7 trillion. Commenting on the exponential growth, Kamal Bali, who is also Chairman, CII Southern Region, said, "We can become a USD 7 trillion economy, doubling our current size by 2030. This remarkable growth signifies something of utmost significance beyond mere numbers." He was speaking at the CII Northern Region Conference on 'achieving excellence in manufacturing' with the theme of 'Powering the Disruptive Technologies.' According to a CII release, Bali said that the impact of this economic expansion will be felt on an individual level, as the per capita income of Indians, currently around USD 2,300, is expected to surge to nearly USD 4,500

EVs to play significant role in closing on record sales this year: Volvo MD

Swedish luxury carmaker Volvo Cars expects electric cars to play a significant role in its bid to close in on record sales in India this year, a senior company official said on Wednesday. The company unveiled its all-electric SUV C40 Recharge in India, which will be launched in August and deliveries to start September onwards. The vehicle will be the company's second electric offering in India after its fully-electric XC40 Recharge launched last year. "2023 has started on a very promising note and we believe that we will do much better this year as compared to the last few years. Since the pandemic I think the market was a bit slow and then we had supply issues. "Supply issue is still around us but I believe that we should go back close to the 2018 number which was our peak," Volvo Car India Managing Director Jyoti Malhotra told PTI here. In 2018, Volvo Car India had sold 2,600 units. Last year it sold around 1,800 units in the domestic market. Asked if the company could cross re

VE Commercial Vehicles posts 35.2% rise in sales at 11,906 units in March

VE Commercial Vehicles Ltd on Monday reported a 35.2 per cent increase in sales at 11,906 units in March 2023, as compared to 8,803 units in the same month last year. The company, a joint venture of the Volvo Group and Eicher Motors, said Eicher branded trucks and recorded sales of 11,677 units last month, as compared to 8,581 units in March 2022, up 36.1 per cent, the company said in a statement. Domestic sales of Eicher branded trucks and buses were at 11,263 units, as against 7,929 units in March 2022, a growth of 42 per cent, while exports were at 414 units last month, down from 652 units in March 2022. Volvo Trucks and buses posted sales of 229 units, as against 222 units in March 2022, a growth of 3.2 per cent, it said.