Safety first as Volvo’s EV UK sales accelerate, but shares still take a hit Volvo accelerates The UK remains a key market for automaker Volvo, along with Italy and Belgium where its models shifted faster than anywhere else. The Swedish carmaker, which is majority owned by China’s Zhejiang Geely Holding Group, said its global sales were up two per cent last month to 48,520, from the same period last year but [...]
Local authorities sue European truck makers over price-fixing scheme Price-fixing cartel More than 100 UK local authorities are taking European truck manufacturers such as Volvo and Daimler to court over a price-fixing scheme. Basildon’s and North Tyneside’s councils as well as 22 fire and rescue services are seeking £450m worth of damages five years after the European Commission ruled that Volvo, Daimler, Iveco, DAF and MAN [...]
Volvo predicts chip shortages to continue as profits go down Chip shortage Swedish car maker Volvo has predicted the ongoing semiconductor chip shortages will extend into the new year, impacting the supply chain. Since its listing in the Stockholm stock exchange at the end of October, the group has reported a slump in profit and revenue, going down from 4.6bn Swedish crowns (£380.8m) to 3.3bn (£273.2m) year [...]
Volvo launches world’s first fossil-free steel vehicle October 13, 2021 Volvo Group launched today the world’ first vehicle made of fossil-free steel, announcing that more will follow in 2022 as part of the company’s pathway to reach net zero by 2050. Made in collaboration with Swedish company SSAB – which specialises in transforming raw materials into steel – the load carrier for mining and quarrying [...]