Volvo AB

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q3 2024

Earnings data Q4 2024

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Volvo AB engages in the design, manufacture, and market of commercial vehicles. It operates through the following segments: Trucks, Construction Equipment, Buses, Volvo Penta, and Financial Services. The Trucks segment includes the production, development, and logistics for powertrain and parts. The Volvo Penta segment markets marine and industrial engines. The company was founded by Assar-Thorvald Nathanael-Gabrielsson and Erik Gustaf Larson in 1927 and is headquartered in Goteborg, Sweden.

GOTHENBURG, Sweden , March 11, 2024 /PRNewswire/ -- The Volvo Group has signed an agreement according to the previously announced Letter of Intent with Westport Fuel Systems Inc to establish a joint venture to accelerate the commercialization and global adoption of Westport's High Pressure Direct Injection (HPDI™ ) fuel system technology for long-haul and off-road applications. The closing of the joint venture is subject to certain closing conditions, including regulatory and government approvals.

Volvo Group signs agreement with Westport for joint venture to reduce CO2 emissions from long haul transport

Volvo Cars' sales fell 2% in February from a year earlier to 50,315 cars, the Sweden-based group said on Tuesday, pointing to the timing of the Lunar New Year in China as an explanation for the decline.

Volvo Cars February sales volume down 2% year-on-year

Volvo Group today published the Annual Report for 2023 on www.volvogroup.com. GOTHENBURG, Sweden , Feb. 29, 2024 /PRNewswire/ -- "During 2023 dedicated colleagues across the Volvo Group worked hard to keep our customer commitments and reduce the lead times as we delivered from the backlogs of vehicles and machines that have been extended since the pandemic.

AB Volvo publishes Annual Report 2023

Luminar Technologies

Luminar Technologies shares tumbled about 10% on Wednesday after the self-driving sensor maker's fourth-quarter results missed estimates on delayed production schedule for Volvo Cars' new EX90 electric SUVs.

Self-driving sensor maker Luminar falls as production delay at Volvo hits earnings

GOTHENBURG, Sweden , Feb. 27, 2024 /PRNewswire/ -- Volvo Group Venture Capital AB has invested in Zacua Ventures Builders Fund I, L.P. - a global venture capital fund focused on early-stage technology for the construction industry.

Volvo Group Venture Capital invests in Zacua Ventures

Polestar Automotive Holding UK PLC

Shares of Volvo Cars fell on Friday after the company said it would dilute its stake in electric vehicle maker Polestar.

Volvo falls 5% after it sets out to dilute stake in electric vehicle automaker Polestar

Volvo Cars said on Friday it plans to distribute 62.7% of its stake worth 9.5 billion crowns ($920.17 million) in Swedish electric vehicle manufacturer Polestar Automotive Holding to its own shareholders.

Volvo Cars to dilute stake in EV maker Polestar

GOTHENBURG, Sweden , Feb. 20, 2024 /PRNewswire/ -- Press information from AB Volvo's Election Committee As previously announced, the Election Committee of AB Volvo proposes Pär Boman to be elected new Chairman of the Board and Board member at the Annual General Meeting on March 27, 2024. The Election Committee also proposes the re-election of the Board members Matti Alahuhta, Bo Annvik, Jan Carlson, Eric Elzvik, Martha Finn Brooks, Kurt Jofs, Martin Lundstedt, Kathryn V.

Proposal for Board of Directors of AB Volvo

Volvo Cars' sales increased 10% to 53,402 cars in January from a year earlier, the Sweden-based group said on Monday.

Volvo Cars' sales rise 10% y/y in January

While electric vehicles (EVs) have been celebrated for their potential to revolutionize transportation and accelerate the path toward a greener future, recent moves by original equipment manufacturers (OEMs) to scale down production, divest and cut funding have cast a shadow over this once-optimistic narrative. On Thursday (Feb.

Volvo's Funding Cut Highlights Ongoing Challenges in Global EV Market

GOTHENBURG, Sweden , Feb. 1, 2024 /PRNewswire/ -- The Volvo Group has today completed the previously announced transaction whereby the Group acquired the battery business from Proterra Inc. and Proterra Operating Company Inc. The acquisition, which was made at a purchase price of USD 210M before adjustment for inventory level at closing, includes a development center for battery modules and packs in California and an assembly factory in Greer, South Carolina. "These assets and the skills and competence of the Proterra team are a great complement to our current footprint and enables us to accelerate our battery-electric roadmap even further," says Lars Stenqvist, CTO Volvo Group.

Volvo completes acquisition of battery business from Proterra Inc. and Proterra Operating Company

The shakeout in the global electric-vehicle industry is picking up speed.

Volvo's Polestar troubles signal 'shakeout time' for EV industry

The company declared Volvo Cars is focused on “developing and concentrating its resources on its own ambitious journey.”

Volvo cuts off Polestar funding despite fact it helped pioneer electric cars

Sweden's Volvo said it would stop funding electric vehicle (EV) maker Polestar (PSNY), in the latest pullback by automakers of their EV forays.

Volvo Pulls Funding From Polestar, Marking Latest Setback for EV Industry

Volvo Car said it won't provide further funding to Polestar, the electric-car maker it created with Volvo's Chinese owner Geely — the latest EV retrenchment by the global auto industry.

Volvo, An Early Electric Car Adopter, Cuts Off Funding For Its EV Affiliate

Geely Automobile Holdings Ltd

Volvo Cars shares surged 23% as the Swedish automaker said it will stop providing funding to EV startup Polestar as it ramps up its own investment.

Volvo Car shares surge as it'll stop funding Polestar in deal with parent Geely

Polestar (NASDAQ: PSNY) stock price will be in the spotlight on Thursday after its biggest shareholder closed its cash tap. The stock closed at $2.17 on Wednesday after crashing by more than 85% from its all-time high.

Polestar stock price is at risk after big Volvo news

The group announced that it may hand stewardship of ailing luxury car brand Polestar over to majority Volvo shareholder Geely Holding. Volvo Cars CEO Jim Rowan told CNBC's Silvia Amaro on Thursday that this was a “natural evolution” in the relationship between the two carmakers.

Volvo shares jump 21% on higher sales, plans to stop Polestar funding

GOTHENBURG, Sweden , Feb. 1, 2024 /PRNewswire/ -- Full Year 2023             2023 revenue was SEK 399.3 bn (SEK 330.1 bn in 2022)            2023 operating income (excl. JVs and associates) was SEK 25.6 bn (SEK 17.9 bn in 2022)            2023 operating income was SEK 19.9 bn (SEK 22.3 bn in 2022)            2023 EBIT margin (excl.

Volvo Cars 2023 profit increases by 43 percent to deliver a record year in the company's 97-year history

Swedish automaker Volvo Cars said on Thursday it would stop providing funding to Polestar as it reported a slightly bigger than expected rise in fourth-quarter operating earnings.

Automaker Volvo Cars to stop funding Polestar, quarterly earnings above estimates

GOTHENBURG, Sweden , Jan. 29, 2024 /PRNewswire/ -- Volvo Trucks has unveiled an all-new heavy-duty truck platform for the North American market in parallel to a new heavy-duty truck range for Europe, Australia and markets in Asia and Africa. New energy efficient models – including trucks running on electricity and renewable fuels – will reduce CO2 emissions and take the company closer to the target of having a net-zero emission product range by year 2040.

Volvo launches new trucks worldwide - future proofing its product portfolio

AB Volvo (publ) (VLVLY) Q4 2023 Earnings Call Transcript

Swedish truck maker AB Volvo reported on Friday a bigger rise than expected in fourth-quarter adjusted operating profit and said it had upped prices to compensate for cost inflation.

Truck maker Volvo's Q4 operating profit beats expectations

GOTHENBURG, Sweden , Jan. 26, 2024 /PRNewswire/ -- "For the full year 2023, we increased net sales by almost SEK 80 billion to SEK 553 billion and the adjusted operating income to SEK 77.6 billion (50.5), with an adjusted operating margin of 14.0% (10.7). Return on capital employed in the Industrial Operations increased to 36.7% (27.4).

Volvo Group - the fourth quarter and full year 2023

Volvo Cars on January 26th reported the full year 2024 and Q4 financial results in Stockholm before markets opened. The company announced strong net sales, in keeping with the first three quarters of the financial year, as well as other thought-provoking figures.

News for Volvo AB Stock (VLVLY)