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The Volvo Group is a leading global provider of transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions, and services. Founded in 1927, the company is committed to sustainable transport solutions and shaping the future of the industry. In 2023, their net sales reached SEK 553 billion. Recently, Volvo has expanded its heavy-duty truck manufacturing capacity in Mexico and acquired the battery business from Proterra Inc. to accelerate their battery-electric roadmap.
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The number of votes in AB Volvo has changed due to the conversion of 100 Series A shares to 100 Series B shares. As of April 30, 2024, there are 2,033,452,084 registered shares in AB Volvo, with 444,984,560 Series A shares and 1,588,467,524 Series B shares. The company's total number of votes is 603,831,312.4.
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Volvo Group reported stable net sales in Q1 2024 at SEK 131.2 billion, with adjusted operating income of SEK 18.2 billion and a margin of 13.8%. Return on capital employed improved to 37.7%. The company continues to prioritize quality in its business.
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Volvo Group is expanding its North American heavy truck production capacity by building a new manufacturing plant in Mexico. The plant will support growth plans for Volvo Trucks and Mack Trucks in the U.S., Canada, Mexico, and Latin America, with an expected operational date in 2026. The investment in the new plant, along with ongoing expansions in existing facilities, aims to enhance production capabilities and logistical efficiency.
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AB Volvo announces a change in the number of votes due to the conversion of Series A shares to Series B shares, resulting in a total of 2,033,452,084 registered shares with 603,831,402.4 votes. The company emphasizes its commitment to sustainable transport solutions and reports net sales of SEK 553 billion in 2023.
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Volvo Group's Annual Report for 2023 highlights a year of growth, profitability, and cash flow despite challenges like supply chain disruptions and cost inflation. Net sales increased by 11% to SEK 552.8 billion, with operating income improving to SEK 77.6 billion. Sales in vehicles, machines, and services reached all-time highs, with a strong operating margin of 14.0%.
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Volvo Group Venture Capital AB invests in Zacua Ventures Builders Fund I, L.P., a global venture capital fund focusing on early-stage technology for the construction industry. Zacua Ventures targets startups working on decarbonization through productivity, sustainability, and urbanization. The partnership aims to connect with innovative solutions for a more efficient and sustainable construction sector.
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AB Volvo announces its Annual General Meeting to be held on March 27, 2024, in Gothenburg, Sweden. Shareholders can participate in person or through advance voting. The meeting agenda includes key topics like election of board members, approval of financial reports, and dividend payments.
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AB Volvo's Election Committee proposes Pär Boman as the new Chairman of the Board and re-election of several Board members at the upcoming Annual General Meeting. The company's focus on sustainable transport and infrastructure solutions is highlighted.
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News
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The Volvo Group has completed the acquisition of the battery business from Proterra Inc. and Proterra Operating Company Inc. for USD 210M, including a development center in California and an assembly factory in South Carolina. The transaction has no material impact on the Volvo Group's financial performance.
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Volvo Trucks unveils new energy-efficient heavy-duty truck platforms for global markets, aiming to reduce CO2 emissions and achieve net-zero emission product range by 2040. The new models promise up to 10% fuel consumption reduction in North America and up to 5% CO2 emission reduction in Europe, Australia, Asia, and Africa. The company also expands its electric truck offerings and commits to decarbonization through various powertrain solutions.
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FAQ
What is the current stock price of VOLVO AB UNSP/ADR (VLVLY)?
The current stock price of VOLVO AB UNSP/ADR (VLVLY) is $24.38 as of November 21, 2024.
What is the market cap of VOLVO AB UNSP/ADR (VLVLY)?
The market cap of VOLVO AB UNSP/ADR (VLVLY) is approximately 50.4B.
When was the Volvo Group founded?
The Volvo Group was founded in 1927.
What is the focus of the Volvo Group's operations?
The Volvo Group specializes in providing transport and infrastructure solutions, including trucks, buses, and construction equipment.
What was the net sales of the Volvo Group in 2023?
In 2023, the Volvo Group reported net sales of SEK 553 billion.
What recent acquisitions has Volvo made?
Recently, Volvo acquired the battery business from Proterra Inc., expanding its footprint in the battery-electric vehicle sector.
What is Volvo's commitment to sustainability?
Volvo is committed to sustainable transport solutions and shaping the future of the industry with a focus on reducing emissions and increasing efficiency.
Where is the Volvo Group headquartered?
The Volvo Group is headquartered in Gothenburg, Sweden.
What is Volvo's vision for the future?
Volvo aims to drive prosperity through transport and infrastructure solutions, delivering sustainable and innovative products and services.
How has Volvo expanded its manufacturing capacity?
Volvo recently announced plans to build a new heavy-duty truck manufacturing plant in Mexico to support the growth plans of its truck brands in North America.
What financial impact did the acquisition of Proterra's battery business have on Volvo?
The acquisition of Proterra's battery business did not have a material impact on Volvo's financial performance.
What are some recent innovations from Volvo in the electric vehicle sector?
Volvo has introduced a range of battery electric equipment, including electric excavators and wheel loaders, as part of its commitment to electrification and sustainability.
VOLVO AB UNSP/ADR
OTC:VLVLY
VLVLY Rankings
VLVLY Stock Data
50.44B
1.59B
0.02%
Farm & Heavy Construction Machinery
Industrials
United States of America
Gothenburg