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Volvo Cars initiates process to take full ownership of NOVO Energy

Volvo Cars has today notified its counterpart in the NOVO Energy joint venture, Northvolt AB, that Volvo Cars will invoke its redemption rights to acquire Northvolt’s shares in NOVO Energy.    This action follows a breach of the parties’ shareholders’ agreement where Northvolt AB has not fulfilled its financing obligations.  Volvo Cars is evaluating any potential impact these developments could have for NOVO Energy and is investigating future scenarios to protect the investment. The NOVO Energy building could be multifunctional and various options are now being considered on the

Volvo Cars reports Q3 2024 core operating profit of SEK 5.7 billion

· Q3 operating profit (excl. JVs and associates) was SEK 5.7 bn, vs SEK 6.1 bn in Q3 2023 · Q3 operating profit was 5.8 bn SEK, vs SEK 4.5 bn in Q3 2023 · Q3 EBIT margin (excl. JVs and associates) was 6.2 per cent, vs 6.7 per cent in Q3 2023 · Q3 EBIT margin was 6.2 per cent, vs 4.8 per cent in Q3 2023 · Q3 revenue was 93 bn SEK, vs 92 bn SEK in Q3 2023 · Q3 electrified share of sales at 48 per cent, vs 34 per cent in Q3 2023 · Q3 fully electric car sales share at 25 per cent, vs 13 per cent in Q3 2023 Volvo Cars today reports a core operating profit (EBIT), excluding

Invitation to Volvo Cars' presentation of the third quarter 2024

Volvo Cars will publish its third quarter 2024 financial results on Wednesday, October 23 at 07:00 CEST.   At 08.00 CEST President & CEO Jim Rowan and CFO Johan Ekdahl will host a livestream for media, investors and analysts. The presentations will be held in English and followed by a Q&A session.  We look forward to your participation. See below for detailed information:   08.00 CEST     Presentation for media, investors, and analysts      Link: https://live.volvocars.com      If you tune in from China, please use this    link: https://live.volvocars.com.cn 

Volvo Cars adjusts leadership

The automotive industry is currently challenged by different headwinds driven by geopolitical and macroeconomic uncertainties that impact the entire industry, including market sentiment, rapid technology shifts and supply chains. Volvo Cars is taking a further step in gearing up to navigate this environment with speed and agility. Today, Volvo Cars is announcing some organisational changes that are designed to increase simplicity, speed and collaboration and reduce complexity by flattening our structure in the Commercial part of the business – enhancing the responsibilities of the

Nomination Committee for Volvo Cars Annual General Meeting 2025 appointed

In line with the principles adopted by Volvo Cars' Annual General Meeting and based on the shareholder information as of August 30, 2024 the Nomination Committee for Volvo Cars' Annual General Meeting 2025 has been appointed and its members are: · Thomas Johnstone, appointed by Geely Sweden Holdings AB · Yimin Chen, appointed by Geely Sweden Holdings AB · Eric Li, Chairperson of the Board of Volvo Car AB · Anders Oscarsson, appointed by AMF as the second largest shareholder · Emilie Westholm, appointed by Folksam as the third largest shareholder The Nomination Committee

Volvo Cars' global sales up 1 per cent in September

Volvo Cars reported global sales of 62,458 cars in September, up 1 per cent compared to the same period last year.  The company's sales of electrified models, fully electric and plug-in hybrid models, grew 43 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during September. The share of fully electric cars constituted 24 per cent of all cars sold for the month. The total sales for the period of January through September amounted to 560,922 cars globally, an increase of 10 per cent compared to the same period 2023.   “The overall market

Volvo Cars' global sales up 3 per cent in August

Volvo Cars reported global sales of 52,944 cars in August, up 3 per cent compared to the same period last year. The sales increase was primarily driven by the strong performance of our fully electric cars in Europe, while the Chinese market was more challenging.   The company's sales of electrified models, fully electric and plug-in hybrid models, grew 47 per cent compared to the same period last year and accounted for 47 per cent of all cars sold during August. The share of fully electric cars constituted 25 per cent of all cars sold for the month. The total sales for the period

Volvo Cars adjusts core business ambitions for 2026 and beyond

Volvo Cars has adjusted its core business ambitions for the coming years, reflecting the company’s relentless focus on value creation while remaining pragmatic amidst fluid market conditions.   The adjusted business ambitions are revealed ahead of Volvo Cars’ Capital Markets Day which takes place in Gothenburg, Sweden today. During the day, Volvo Cars will reveal details of its value creation approach, technology roadmap and product plan for the coming years.   Rather than aiming for an absolute revenue target, Volvo Cars’ ambition is now to continue outgrowing the premium car

All future electric Volvo cars will originate from one single technology stack

On Volvo Cars’ Capital Markets Day, held today in Gothenburg, Sweden, we will reveal our new, game-changing approach to technology. This new approach will define the company’s future by channeling all our engineering efforts into one direction: making cars that get better with time. Starting with the EX90, our future electric cars will be based on the same fundamental core of systems, modules, software and hardware, called the Volvo Cars Superset tech stack. It’s a single tech and software base that contains all modules and functionalities that we will use in our future product line-

From car to cloud: Volvo Cars expands collaboration with NVIDIA

At Volvo Cars, we don’t focus on technology for the sake of technology. We develop human-centric technology that creates value and makes cars safer, life better, without compromise on safety. Our software-defined cars are a key part of this ambition, bringing next-generation safety, connectivity, data and software all together in one product. We’re guided by our technology roadmap: by striking a balance between in-house development and smart partnerships with global tech leaders, so that we can work with both speed and the latest, cutting-edge technology. The new Volvo EX90 is the

Volvo Cars adjusts electrification ambitions, remains committed to fully electric future

With five fully electric cars (EVs) already on the market and another five models in development, full electrification remains a key pillar of Volvo Cars’ product strategy. Its long-term aim remains to become a fully electric car company, and it also aims to reach net zero greenhouse gas emissions by 2040.   While Volvo Cars will retain its position as an industry leader in electrification, it has now decided to adjust its electrification ambitions due to changing market conditions and customer demands.   Going forward, Volvo Cars aims for 90 to 100 per cent of its global sales

Repurchase of shares in Volvo Car AB (publ) on August 26 2024

Volvo Car AB (publ) (LEI code: 5299000EAMGGBEYP7J33) (“Volvo Cars”) has on 26 August 2024 repurchased a total of 458,306 own shares of series B (ISIN code: SE0021628898) as part of the repurchase programme resolved by the Board of Directors in order to ensure future delivery of shares to participants in Volvo Cars’ Performance Share Plans and Employee Share Matching Plans adopted by the Annual General Meeting in 2022 and 2023. Pursuant to the repurchase programme, a maximum of 6,500,000 shares of series B may be repurchased for a total maximum amount of SEK 300 million. The repurchases

Repurchase of shares in Volvo Car AB (publ) during the period 19 August – 23 August 2024

Volvo Car AB (publ) (LEI code: 5299000EAMGGBEYP7J33) (“Volvo Cars”) has during the period 19 August – 23 August 2024 repurchased a total of 4,026,821 own shares of series B (ISIN code: SE0021628898) as part of the repurchase programme resolved by the Board of Directors in order to ensure future delivery of shares to participants in Volvo Cars’ Performance Share Plans and Employee Share Matching Plans adopted by the Annual General Meeting in 2022 and 2023. Pursuant to the repurchase programme, a maximum of 6,500,000 shares of series B may be repurchased for a total maximum amount of SEK 300

Repurchase of shares in Volvo Car AB (publ) during the period 12 August – 16 August 2024

Volvo Car AB (publ) (LEI code: 5299000EAMGGBEYP7J33) (“Volvo Cars”) has during the period 12 August – 16 August 2024 repurchased a total of 2,014,873 own shares of series B (ISIN code: SE0021628898) as part of the repurchase programme resolved by the Board of Directors in order to ensure future delivery of shares to participants in Volvo Cars’ Performance Share Plans and Employee Share Matching Plans adopted by the Annual General Meeting in 2022 and 2023. Pursuant to the repurchase programme, a maximum of 6,500,000 shares of series B may be repurchased for a total maximum amount of SEK 300

Volvo Car AB resolves on repurchase of own shares

The Board of Volvo Car AB (“Volvo Cars”) has resolved to repurchase own shares in accordance with the authorization granted by the Annual General Meeting held on 26 March  2024. The purpose of the repurchase programme is to secure the future delivery of shares to participants in Volvo Cars’ Performance Share Plans and Employee Share Matching Plans adopted by the Annual General Meeting in 2022 and 2023.· Volvo Cars intends to over time execute share buyback programmes in order to secure delivery of shares in ongoing share based incentive programmes. · Pursuant to the upcoming repurchase

Volvo Cars' global sales up 6 per cent in July

Volvo Cars reported global sales of 57,447 cars in July, up 6 per cent compared to the same period last year. The sales increase was primarily driven by the strong sales of our fully electric cars in Europe.   The company's sales of electrified models, including both fully electric and plug-in hybrid models, grew 49 per cent compared to the same period last year and accounted for 49 per cent of all cars sold during July. The share of fully electric cars constituted 25 per cent of all cars sold for the month. The total sales for the period of January through July amounted to 445,520

Reminder that the conversion period for conversion of SDRs into Polestar Class A ADSs will expire on 13 August 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT. THIS DOCUMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION AND SHALL NOT FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR THE SOLICITATION OF AN OFFER OR COMMITMENT TO BUY OR SUBSCRIBE FOR ANY SECURITIES TO ANY PERSON WHATSOEVER IN ANY JURISDICTION.Volvo Car AB (publ) (“Volvo Cars”) would like to remind shareholders that the conversion

Volvo Cars reports record core operating profit of SEK 8.2 billion in Q2 2024

· Q2 operating profit (excl. JVs and associates) was SEK 8.2 bn, up 28 per cent vs Q2 2023 · Q2 operating profit was 8.0 bn SEK, up 60 per cent vs Q2 2023 · Q2 EBIT margin (excl. JVs and associates) was 8.1 per cent, vs 6.3 per cent in Q2 2023 · Q2 EBIT margin was 7.9 per cent, vs 4.9 per cent in Q2 2023 · Q2 revenue was 101.5 bn SEK, vs 102.2 bn SEK in Q2 2023 · Q2 basic earnings per share was 1.79 SEK, vs 1.12 SEK in Q2 2023 · Q2 electrified share of sales at 48 per cent, vs 39 per cent in Q2 2023 · Q2 fully electric car sales share at 26 per cent, vs 16 per cent in

Invitation to Volvo Cars' presentation of the second quarter 2024

Volvo Cars will publish its second quarter 2024 financial results on Thursday, July 18 at 07:00 CEST. At 08.00 CEST, we will host a livestream for media, investors and analysts. The presentation will be held in English and followed by a Q&A session. We look forward to your participation. See below detailed information: 08:00 CEST             Presentation for media, investors and analysts Link: https://live.volvocars.com If you tune in from China, please use this link: https://live.volvocars.com.cn It will be possible to ask questions during the Q&A session following the

Volvo Cars' global sales up 8 per cent in June

Volvo Cars reports global sales of 71,514 cars in June, up 8 per cent compared to the same period last year. The sales increase was primarily driven by a strong performance in Europe and Latin America and the company's fully electric small SUV, the EX30.   The company's sales of electrified models, fully electric and plug-in hybrid models, grew 41 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during June. The share of fully electric cars constituted 26 per cent of all cars sold for the month. The total sales for the period of January

Volvo Cars statement following Polestar FY 2023 results

Following the release of Polestar’s preliminary unaudited financial and operational results for 2023 today Volvo Cars announces that the company estimates that the total net effect on Volvo Cars’ financial results will be non-material. The total net effect is a result of the combination of Polestar’s 2023 results and the change in our ownership percentage in Polestar.  The announcement from Polestar today included impairment charges of approximately 450 MUSD in total. Due to the timing of Polestar’s FY 2023 Report the impairment charges were not known to Volvo Cars at the time when Volvo

Invitation to Volvo Cars’ Capital Markets Day 2024

Volvo Cars will hold its Capital Markets Day at 10:00 CEST on 5 September, 2024, at the newly opened World of Volvo in Gothenburg, Sweden. The Capital Markets Day is an opportunity for institutional investors, financial analysts and business media to get an update and ask questions on Volvo Cars’ company and product strategy and the journey towards our financial ambitions. Speakers will include our chief executive Jim Rowan, the Executive Management Team and other company representatives.  During the day, attendees can expect to hear about the company’s products and technology, global

Volvo Cars' global sales up 13 per cent in May

Volvo Cars reports global sales of 68,034 cars in May, up 13 per cent compared to the same period last year. The sales increase was primarily driven by a strong performance in Europe as well as the company's fully electric small SUV, the EX30.   The company's sales of electrified models, fully electric and plug-in hybrid models, grew 37 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during May. The share of fully electric cars constituted 25 per cent of all cars sold for the month. The total sales for the period of January through May

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