Record order from Maersk for Volvo electric trucks

Rhea-AI Summary

Volvo Trucks has secured a major order for 110 VNR Electric trucks from Maersk, marking the largest commercial order for its electric vehicles to date. This follows an earlier order of 16 trucks, bringing the total to 126 units for Performance Team, part of the Maersk Group. The deployment is scheduled to start in Q2 2022 and be completed by Q1 2023. The VNR Electric features an operating range of up to 440 km and is part of Volvo's ambition to achieve 50% electric sales by 2030.

Positive

• Largest commercial order for Volvo's electric trucks with 110 units.
• Demonstrates strong collaboration with Maersk towards sustainability.
• Highlights growing market interest and leadership in electric trucks.

Negative

• None.

GÖTEBORG, Sweden, March 29, 2022 /PRNewswire/ -- Volvo Trucks in North America has won an order for 110 Volvo VNR Electric trucks from the global logistics company Maersk. The deal adds to a previous order of 16 vehicles of the same model and marks the single largest commercial order to date for Volvo's electric trucks.

The order was placed by Performance Team, part of the Maersk Group, and adds up to mean a total of 126 such electric trucks will be in service for Performance Team. The first electric trucks will be in operation in the second quarter of 2022, all 126 trucks are scheduled for deployment by the first quarter of 2023.

"Volvo Trucks is excited to continue collaborating with Maersk on its fleet sustainability goals and to play a key role in the organization's continued scaled investments in electromobility solutions," says Peter Voorhoeve, president of Volvo Trucks North America.

The Class 8 electric trucks will be used in California for a variety of transport assignments, serving port drayage and warehouse distribution routes.

The Volvo VNR Electric has an operating range of up to 440 km and energy storage of up to 565kWh. The truck can be 80% charged in 90 minutes with the six-battery package and 60 minutes with the four-battery version. The Volvo VNR Electric is produced in Volvo Trucks' New River Valley plant in Virginia, which is the exclusive producer of all Volvo trucks in North America.

50% electric sales by 2030
Globally, Volvo Trucks has set the ambitious target that by 2030 50% of all trucks it sells will be electric.

"We are determined to lead the electric transformation of the transport industry. Volumes are still low, but we see rapidly growing interest in Europe, North America and also other parts of the world. In 2021 we took orders, including letters of intent to buy, for more than 1,100 trucks in over 20 countries. It´s clearly becoming a key competitive advantage to be able to offer electric, zero emission transports," says Roger Alm, President Volvo Trucks.

Volvo Trucks was the market leader in heavy electric trucks in 2021 in Europe with a market share of 42% and also has a leading position in North America. With a total of six electric truck models in production as of this year, Volvo Trucks has the most complete electric line up in the global truck industry, covering everything from city distribution and refuse handling, to construction transports and regional haulage.

March 29, 2022

For further information, please contact:
Jan Strandhede
Media Relations Director, Volvo Trucks
jan.strandhede@volvo.com
+46 31 3233715, +46 765 533715

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The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs almost 95,000 people and serves customers in more than 190 markets. In 2021, net sales amounted to SEK 372 billion (EUR 37 billion). Volvo shares are listed on Nasdaq Stockholm.

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FAQ

What is the significance of the order for VNR Electric trucks by Maersk?

The order for 110 VNR Electric trucks represents the largest commercial order for Volvo's electric trucks, highlighting growing demand and collaboration with Maersk.

When will the VNR Electric trucks be operational?

The initial electric trucks are expected to start operations in the second quarter of 2022, with all 126 trucks scheduled for deployment by the first quarter of 2023.

What are the specifications of the VNR Electric truck?

The Volvo VNR Electric has an operating range of up to 440 km, energy storage of up to 565 kWh, and can be 80% charged in 90 minutes.

What is Volvo's target for electric truck sales by 2030?

Volvo aims for 50% of all truck sales to be electric by 2030, reflecting its commitment to sustainability and electric vehicle adoption.

How does Volvo Trucks rank in the electric truck market?

Volvo Trucks was the market leader in heavy electric trucks in Europe in 2021, holding a market share of 42%.