Volvo Group accelerates to grow in the ongoing industry transformation

At Volvo Group’s Capital Markets Day today, June 22, 2022, President and CEO Martin Lundstedt and Group Management outlined key business opportunities in the ongoing technology shift that is expected to accelerate the Group’s revenue growth

At Volvo Group’s Capital Markets Day, today June 22, 2022, President and CEO Martin Lundstedt and Group Management outlined the key business opportunities in the ongoing technology shift that is expected to accelerate the Group’s revenue growth.

Over the past decade, the Volvo Group has built 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 the potential to increase total vehicle and service revenues per unit by more than 50 percent over the life cycle. Exploiting the Group’s first-mover advantage to gain market shares and broadening its range of services are also expected to drive growth. Despite taking advantage of these growth opportunities, the Volvo Group’s financial targets remain.

“Climate change is the challenge of our generation. At the same time, the demand for transport and infrastructure continues to grow and we need to meet this demand with more sustainable solutions. In this changing landscape, we can lead the transformation and deliver greater value to our customers, and the Volvo Group embarks on a growth path driven by electrification, autonomous solutions and new productivity services. We are ready for growth,” said Martin Lundstedt, Volvo Group President and CEO.

There is a strong pull from customers willing to partner with the Volvo Group to decarbonise both their own value chains and those of their customers. The Volvo Group has the electrical products, services and solutions that make this possible.

“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 move through the transformation to electric and autonomous vehicles. We invest to win,” says Martin Lundstedt.

SOURCE: Volvo Group

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