VOLVO AB UNSP/ADR - VLVLY STOCK NEWS

Volvo Trucks has emerged as the market leader in heavy all-electric trucks in Europe, securing a 42% market share in 2021. The company received orders for over 1,100 electric trucks across more than 20 countries, contributing to a 193% increase in electric truck registrations in Europe compared to 2020. As part of its commitment to sustainability, Volvo aims for 50% of total truck sales to be electric by 2030. The heavy-duty models, including the Volvo FH, FM, and FMX, are expected to launch this fall, enhancing Volvo's robust electric lineup.

Volvo Trucks has launched an enhanced version of its VNR Electric, increasing its operational range from 240 km (150 miles) to up to 440 km (275 miles). The new model features improved battery technology offering up to 565 kWh energy storage and faster charging times, requiring only 90 minutes for an 80% charge. Production will start in Q2 2022 in Virginia. Volvo aims for 50% of its global truck sales to be electric by 2030, showcasing its commitment to sustainability and responding to rising customer demand for electric vehicles.

Volvo Trucks has secured an order for 25 additional heavy electric trucks from DFDS, Northern Europe's largest shipping and logistics company. This is in addition to the record order of 100 Volvo FM electric trucks placed in October, totaling 125 trucks for DFDS. The new vehicles aim to enhance low-emission transport solutions across Europe, with deliveries set for Q4 2022. Volvo Trucks holds a 40% market share for electric trucks over 16 tonnes in Europe.

Volvo Group has joined the First Movers Coalition, a partnership initiated by the World Economic Forum and US Special Presidential Envoy for Climate, John Kerry. This coalition aims to drive market demand for low-carbon technologies necessary for achieving 2050 climate goals. Key commitments include the purchase of zero-emission medium and heavy-duty trucks and near-zero emissions steel by 2030. The coalition seeks to create a significant impact through collective purchasing power, facilitating the commercialization of emerging decarbonization technologies.

Volvo Autonomous Solutions and Holcim Switzerland have announced a partnership to test autonomous electric haulers in a limestone quarry at Holcim's Gabenchopf site. This collaboration aims to enhance transportation solutions that are safer and environmentally friendly. The battery-electric haulers represent a significant advancement in the industry, being the first commercially available CE-certified electric autonomous transport solutions for the quarry and cement sectors. The initiative aligns with Holcim's commitment to sustainability and its project 'Plants of Tomorrow'.

Paul Anastas, a Yale professor and green chemistry pioneer, has been awarded the 2021 Volvo Environment Prize, recognizing his significant contributions to sustainability in the chemical industry. The jury acclaimed his work for transforming chemical processes to reduce toxicity and waste. Anastas, known as the father of green chemistry, emphasizes the importance of innovative methods that not only match but exceed traditional chemical technologies. The award ceremony is set for December 1, highlighting global efforts in environmental sustainability.

Volvo Construction Equipment has unveiled the LX03, a fully autonomous, battery-electric prototype wheel loader that represents a significant advancement in smart construction technology. This machine, developed in collaboration with LEGO Technic, is the first real-world application of a self-learning concept machine capable of making decisions and performing tasks autonomously. Designed to reduce emissions and improve safety, the LX03 can adapt to various scenarios and complete heavy tasks without human intervention. While not commercially available yet, insights gained from this project are expected to influence future applications.

The Volvo Group reported Q3 2021 net sales of SEK 85.3 billion, an 11% increase from the previous year, driven by strong service demand. The adjusted operating income rose to SEK 9.4 billion, marking an operating margin of 11.0%. Despite these positive results, production faced disruptions due to shortages of semiconductors and other components, leading to increased costs. The earnings per share climbed to SEK 3.47, up from 2.81. However, operating cash flow turned negative at SEK -5.7 billion.

Volvo Group has unveiled the world’s first vehicle made from fossil-free steel in collaboration with SSAB. The load carrier, showcased on October 13, 2021, at a green steel event, signifies a major step toward sustainable transport solutions. This initiative aligns with Volvo's goal to achieve net-zero greenhouse gas emissions by 2040. Smaller-scale production is planned for 2022, leading to mass production. The CEO of Volvo, Martin Lundstedt, emphasized the importance of collaboration for a climate-neutral future.