Electric vehicles will increase Volvo Group revenue by more than 50%

The Volvo group has indicated that with electric vehicles there is the potential to increase vehicle and service revenue per unit by more than 50% over the life cycle.

This has been pointed out by the management of the Swedish group in its ‘Capital Markets Day’, where it exposed the main business opportunities with technological change, which it has foreseen will accelerate the growth of the group’s sales.

The Volvo group’s financial targets remain the same, but they have shown confidence that this growth will also be driven by an expanded service offering, which could lead to increased market shares.

On the other hand, from the Scandinavian multinational they have stressed that climate change is the challenge of this generation and that at the same time, the demand for transport and infrastructure continues to grow.

“In this changing landscape, we can lead the transformation and deliver greater value to our customers and embark Volvo on a growth journey powered by electrification, autonomous solutions and new productivity services,” said Volvo President and CEO. of the company, Martin Lundstedt.

In this sense, the group has indicated that there is a “strong impulse” of clients who want to associate with the company with the aim of decarbonising both their own value chains and those of their clients.

“Our modular vehicle architectures will continue to serve us, creating flexibility as well as cost and capital efficiencies in both R&D and the industrial system as we move forward with the transformation to electric and autonomous vehicles,” said Lundstedt.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button