AB Volvo (Volvo Group): Detailed Corporate Profile

Quick Facts / Company Snapshot

• Legal Name: Aktiebolaget Volvo (publ)
• Headquarters: Gothenburg, Sweden
• Founding Year: 1927
• Total Employees: 102,000
• Net Sales (2024): SEK 527 billion
• Operating Income (2024): SEK 66,611 million
• Adjusted Operating Margin (2024): 12.5%
• Earnings Per Share (2024): SEK 24.78
• Return on Capital Employed (Industrial Operations): 35.8%
• Markets Served: Almost 180 markets globally
• Production Footprint: 17 countries
• Truck Deliveries (2024): 219,377 units
• Construction Equipment Deliveries (2024): 56,043 units
• Bus Deliveries (2024): 6,274 units
• Volvo Penta Engine Deliveries (2024): 35,651 units
• Electric Truck Market Share (Europe, Heavy-duty): 70% (combined Volvo and Renault)
• R&D Investments (2024): SEK 30,957 million

Company Overview

The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment, and marine and industrial engines. The Group also provides complete solutions for financing and service. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions.

Headquartered in Gothenburg, Sweden, the company employs approximately 102,000 people and serves customers in almost 180 markets. The Volvo Group drives prosperity through transport and infrastructure solutions, offering products and services that increase customer uptime and productivity. The reliability and productivity of the Group’s products are key factors in the success and profitability of its customers, who primarily operate within the transportation or infrastructure industries.

Mission and Vision

The Volvo Group’s mission is “Driving prosperity through transport and infrastructure solutions.” This involves shaping the world we want to live in by providing products and services that help put food on tables, carry people to work or school, build roads, keep cities clean, and meet the growing demands of the world.

The Group strives towards a vision of transport and infrastructure solutions that are:

• 100% Safe
• 100% Fossil-free
• 100% More Productive

Strategic Priorities

To accelerate its growth journey and improve performance, the Volvo Group focuses its efforts in a common direction with clear strategic priorities:

• Secure strong positions in key markets with regional value chains: Leveraging global presence and scale to capture new business opportunities and increase profitability.
• Reach the full potential of the service business: Focusing on the untapped potential of the service business to build strong customer relations and loyalty.
• Lead the transformation: Driving prosperity through the transformation to electric and sustainable solutions.
• Drive product leadership and synergies: Utilizing the modular platform Common Architecture & Shared Technology (CAST).
• Create value through portfolio management: Actively allocating capital and attention to maximize future value potential.

Business Segments

The Volvo Group organizes its operations into specific business segments, each contributing to the overall revenue and strategic goals of the company. Below is the detailed breakdown of each segment, sorted by revenue contribution.

Trucks

• Net Sales (2024): SEK 360,610 million
• Share of Total Revenue: 68%
• Adjusted Operating Income: SEK 45,826 million
• Adjusted Operating Margin: 12.7%

The Truck business is the largest segment within the Volvo Group. It includes the manufacture and sale of trucks under the brands Volvo Trucks, Renault Trucks, and Mack Trucks. It also encompasses Volvo Autonomous Solutions and Volvo Energy. This segment includes significant joint ventures and partnerships such as VE Commercial Vehicles (Eicher), Dongfeng Commercial Vehicles, cellcentric, Milence, Flexis, and Cespira.

The truck operations provide vehicles ranging from light-duty trucks for distribution to heavy-duty trucks for long-haulage and construction work. The offer includes a comprehensive range of maintenance and repair services, financing, and leasing. In 2024, the segment delivered 219,377 trucks.

Construction Equipment

• Net Sales (2024): SEK 88,305 million
• Share of Total Revenue: 17%
• Adjusted Operating Income: SEK 12,737 million
• Adjusted Operating Margin: 14.4%

Volvo Construction Equipment (Volvo CE) develops, manufactures, and markets equipment for construction and related industries. The brand portfolio includes Volvo, SDLG, and Rokbak. Products include excavators, wheel loaders, articulated haulers, rigid haulers, and road machinery.

Volvo CE is a leader in driving the transition towards fossil-fuel-free construction. In 2024, the segment delivered 56,043 machines. The segment focuses on maximizing uptime and customer productivity through connectivity and new business models.

Financial Services

• Net Sales (2024): SEK 26,982 million
• Share of Total Revenue: 5%
• Adjusted Operating Income: SEK 4,042 million
• Return on Equity: 13.0%

Volvo Financial Services (VFS) provides financial services and solutions to customers and dealers. VFS offers customer financing in 43 markets around the world, covering about 90% of all Group branded deliveries. The segment manages a retail portfolio of more than 292,000 vehicles and machines.

VFS works to promote long-term relationships, loyalty, and customer success by offering a broad range of services including installment credits, finance leases, and operating leases. The penetration rate, which is the share of unit sales financed by VFS, was 29% in 2024.

Buses

• Net Sales (2024): SEK 24,544 million
• Share of Total Revenue: 5%
• Adjusted Operating Income: SEK 2,233 million
• Adjusted Operating Margin: 9.1%

Volvo Buses is one of the world’s largest manufacturers of premium buses and coaches. The brands included are Volvo Buses and Prevost. The segment provides sustainable people transport solutions, including premium city and intercity buses, coaches, and chassis, as well as services for increased productivity, uptime, and safety.

In 2024, the segment delivered 6,274 buses. Volvo Buses is active in more than 70 countries and leverages a global service network with more than 2,200 service points.

Volvo Penta

• Net Sales (2024): SEK 19,852 million
• Share of Total Revenue: 4%
• Adjusted Operating Income: SEK 3,419 million
• Adjusted Operating Margin: 17.2%

Volvo Penta is a world-leading supplier of power solutions for marine and industrial applications. The segment offers engines and power systems for leisure boats, yachts, commercial vessels, off-highway industrial applications, and power generation.

Volvo Penta aims to be the most customer-focused supplier of innovative sustainable power solutions. In 2024, the segment delivered 35,651 units. The offering includes internal combustion engines, battery-electric hybrid solutions, and fully electric drivelines.

Group Functions & Other

• Net Sales (2024): SEK 16,548 million
• Share of Total Revenue: Approximately 3% (Calculated based on net sales contribution before eliminations)
• Adjusted Operating Income: SEK -2,943 million

This segment comprises Nova Bus, Designwerk, and common business support functions. It focuses on supporting the overall business operations and strategic initiatives of the Group.

History and Evolution

Founded in 1927, the Volvo Group has a long history of shaping the landscape of transport and infrastructure. Since its inception, the company has grown from a local Swedish manufacturer into a global powerhouse.

• 1894: Renault Trucks traces its history back to this year, providing sustainable mobility solutions to professionals on the road for over a century.
• 1900: Mack Trucks was founded, helping to move and build America for over 120 years.
• 1927: The Volvo Group was founded in Gothenburg, Sweden.
• 2024: The Group celebrated several milestones, including the 100-year anniversary of Prevost.

Throughout its history, the Group has expanded its footprint globally, establishing production in 17 countries and sales in almost 180 markets. The company has continuously evolved its product portfolio, moving from traditional combustion engines to advanced electric and autonomous solutions. In recent years, the Group has focused heavily on the transition to net-zero emissions, with an ambition to reach net-zero value chain greenhouse gas emissions by 2040.

Products and Services

The Volvo Group’s revenue streams are categorized into two main types: Vehicles and Services.

Vehicles

• Net Sales (2024): SEK 397,193 million
• Share of Total Revenue: 75%

This category includes the sales of new trucks, buses, construction equipment, and engines. It also covers the sales of used vehicles and machines.

Key Product Launches and Highlights:

• Volvo VNL: An all-new heavy-duty truck platform for North America, cutting fuel consumption by up to 10%.
• Volvo FH Aero: A new aerodynamic heavy-duty truck range for Europe, Australia, Asia, and Africa, lowering energy consumption by up to 5%.
• Volvo BZR Electric: A global platform for city, intercity, and commuter operations.
• Volvo Penta IPS Professional Platform: An advanced hybrid-electric propulsion system for superyachts and commercial vessels.
• Electric Trucks: The Group offers a broad range of electric trucks, with a combined market share of 70% in heavy-duty electric trucks in Europe in 2024.

Services

• Net Sales (2024): SEK 129,624 million
• Share of Total Revenue: 25%

The service business is a strategic priority for the Group, contributing to stability and resilience in earnings. It includes the sale of spare parts, maintenance services, repairs, extended coverage, connectivity solutions, and financial services.

Service Highlights:

• Compounded Annual Growth Rate (5 years): 10% in service sales.
• Recurring Revenues: Services balance fluctuations in new product sales.
• Potential Market: A running population of close to 3 million vehicles and machines represents significant potential for service business growth.

Brand Portfolio

The Volvo Group manages a robust portfolio of brands, each targeting specific market segments and customer needs.

Volvo

The primary brand for trucks, buses, construction equipment, and engines. It stands for quality, safety, and environmental care.

• Segment: Trucks, Construction Equipment, Buses, Penta.

Renault Trucks

A leading French truck manufacturer providing sustainable mobility solutions since 1894.

• Segment: Trucks.
• 2024 Deliveries: 56,898 trucks.

Mack Trucks

A legendary American truck brand founded in 1900, known for durability and reliability.

• Segment: Trucks.
• 2024 Deliveries: 28,044 trucks.

Volvo Penta

Focuses on marine and industrial power solutions.

• Segment: Marine and Industrial Engines.
• 2024 Deliveries: 35,651 units.

Construction Equipment Brands

• SDLG: A leading Chinese construction machinery brand in which Volvo has ownership.
• Rokbak: Manufactures articulated haulers.

Bus Brands

• Prevost: A leading North American manufacturer of premium touring coaches and conversion coaches.
• Nova Bus: A provider of sustainable transit solutions in North America.

Joint Ventures and Strategic Alliances

• Eicher (VECV): A joint venture in India producing commercial vehicles.
• Dongfeng Commercial Vehicles: A partnership in China.
• cellcentric: A 50/50 joint venture with Daimler Truck for fuel-cell systems.
• Milence: A joint venture for European high-performance charging networks.
• Flexis: A joint venture with Renault Group and CMA CGM for electric vans.
• Cespira: A joint venture with Westport Fuel Systems for HPDI fuel system technology.

Geographical Presence

The Volvo Group operates globally with sales in almost 180 markets. Below is the revenue breakdown by region, sorted by revenue contribution.

Europe

• Net Sales (2024): SEK 216,270 million
• Share of Total Revenue: 41%
• Key Markets: Sweden, France, UK.
• Market Characteristics: Demand for trucks normalized in 2024 compared to high levels in 2023. Construction equipment market softened due to elevated interest rates.

North America

• Net Sales (2024): SEK 162,370 million
• Share of Total Revenue: 31%
• Key Markets: USA, Canada.
• Market Characteristics: Truck demand was lower than in 2023. Construction equipment demand held up better but was lower than high 2023 levels. Strong demand for coaches.

Asia

• Net Sales (2024): SEK 58,773 million
• Share of Total Revenue: 11%
• Key Markets: China, India, Japan, South Korea.
• Market Characteristics: Deliveries of SDLG branded machines in China increased by 30%.

South America

• Net Sales (2024): SEK 56,559 million
• Share of Total Revenue: 11%
• Key Markets: Brazil.
• Market Characteristics: Demand for trucks was good in South America in 2024.

Africa and Oceania

• Net Sales (2024): SEK 32,843 million
• Share of Total Revenue: 6%
• Key Markets: Australia, South Africa.

Financial Performance Analysis

In 2024, the Volvo Group demonstrated earnings resilience despite normalizing market demand.

Consolidated Performance

• Net Sales: Decreased by 5% to SEK 526,816 million (2023: SEK 552,252 million). Adjusted for currency, the decrease was 3%.
• Operating Income: SEK 66,611 million (2023: SEK 67,301 million).
• Operating Margin: 12.6% (2023: 12.1%).
• Adjusted Operating Income: SEK 65,718 million (2023: SEK 78,155 million).
• Adjusted Operating Margin: 12.5% (2023: 14.0%).
• Income for the Period: SEK 50,576 million (2023: SEK 49,932 million).

The decrease in sales was primarily driven by a 5% decrease in vehicle sales, while service sales remained resilient with a 4% increase (currency-adjusted).

Profit and Loss Analysis

Revenue

• Total Revenue: SEK 526,816 million.
• Vehicle Sales: SEK 397,193 million.
• Service Sales: SEK 129,624 million.

Operating Profit

• Reported Operating Income: SEK 66,611 million.
• Impact of Exchange Rates: Changes in exchange rates negatively impacted operating income by SEK 1,764 million.
• Adjusted Operating Income: SEK 65,718 million.

Expenses

• Cost of Sales: SEK 382,767 million.
• Research and Development Expenses: SEK 30,957 million.
• Selling Expenses: SEK 34,688 million.
• Administrative Expenses: SEK 7,801 million.

Key Ratios

• Gross Margin: 27.3%.
• Operating Margin: 12.6%.
• Basic Earnings Per Share: SEK 24.78.
• Return on Shareholders’ Equity: 28.5%.

Balance Sheet Analysis

Assets

• Total Assets: SEK 714,564 million.
• Non-current Assets: SEK 356,254 million, comprising intangible assets, property, plant, and equipment.
• Current Assets: SEK 358,309 million, including inventories of SEK 78,359 million and cash and cash equivalents of SEK 85,171 million.

Liabilities and Equity

• Total Equity: SEK 197,361 million.
• Equity Ratio: 27.6%.
• Non-current Liabilities: SEK 211,216 million, including bond loans of SEK 109,031 million.
• Current Liabilities: SEK 261,298 million.

Liquidity Position

• Industrial Operations Net Financial Position: A net financial asset position of SEK 85.9 billion (excluding pension and lease liabilities).
• Cash and Cash Equivalents: SEK 85.2 billion.
• Committed Credit Facilities: SEK 58.7 billion granted but unutilized.

Cash Flow Analysis

Operating Activities

• Operating Cash Flow (Industrial Operations): SEK 45,295 million (2023: SEK 45,821 million).
• Cash Flow from Operating Activities (Group): SEK 46,444 million.

Investing Activities

• Investments in Property, Plant and Equipment: SEK 13,892 million.
• Investments in R&D: SEK 30,957 million recognized in the income statement.
• Acquisitions: SEK 3,006 million outflow for acquired operations (e.g., Proterra battery business).

Financing Activities

• Dividends Paid: SEK 36,602 million to owners of AB Volvo.
• Change in Loans: Net borrowings increased by SEK 14.8 billion.

Board of Directors and Leadership Team

Board of Directors

• Pär Boman: Chairman of the Board. Elected 2024.
• Matti Alahuhta: Board member.
• Bo Annvik: Board member.
• Jan Carlson: Board member.
• Eric Elzvik: Board member. Chairman of the Audit Committee.
• Martha Finn Brooks: Board member. Member of the Audit Committee.
• Kurt Jofs: Board member. Chairman of the Transformation Committee.
• Martin Lundstedt: President and CEO, Board member.
• Kathryn V. Marinello: Board member.
• Martina Merz: Board member.
• Helena Stjernholm: Board member. Member of the Audit Committee.

Employee Representatives:

• Lars Ask: Ordinary member.
• Therese Koggdal: Ordinary member.
• Urban Spännar: Ordinary member.
• Danny Bilger: Deputy member.
• Camilla Johansson: Deputy member.
• Erik Svensson: Deputy member.

Group Executive Board

• Martin Lundstedt: President and CEO.
• Roger Alm: President Volvo Trucks.
• Nina Aresund: General Counsel.
• Mats Backman: CFO.
• Bruno Blin: President Renault Trucks.
• Andrea Fuder: Chief Purchasing Officer.
• Jens Holtinger: EVP Group Trucks Operations.
• Melker Jernberg: President Volvo Construction Equipment.
• Diana Niu: EVP Group People & Culture.
• Scott Rafkin: Chief Digital Officer.
• Stephen Roy: President Mack Trucks.
• Lars Stenqvist: Chief Technology Officer.
• Kina Wileke: EVP Group Communication.

Subsidiaries, Associates, Joint Ventures

The Volvo Group has ownership in several entities that contribute to its strategic goals. Below are the key disclosed entities with ownership percentages.

Joint Ventures and Associates

• cellcentric GmbH & Co. KG: 50% ownership. Carrying value: SEK 7,958 million. Focus: Fuel-cell systems.
• VE Commercial Vehicles, Ltd. (VECV): 45.6% ownership. Carrying value: SEK 3,835 million. Focus: Commercial vehicles in India.
• Dongfeng Commercial Vehicles Co., Ltd (DFCV): 45.0% ownership. Carrying value: SEK 6,726 million. Focus: Commercial vehicles in China.
• Flexis SAS: 45% ownership. Carrying value: SEK 2,309 million. Focus: Electric vans.
• Milence: 33.3% ownership. Carrying value: SEK 634 million. Focus: Charging infrastructure.
• Cespira: 45% ownership. Carrying value: SEK 309 million. Focus: HPDI fuel system technology.

Wholly Owned Subsidiaries (Selected)

• Volvo Lastvagnar AB (Sweden)
• Volvo Construction Equipment AB (Sweden)
• AB Volvo Penta (Sweden)
• Volvo Bussar AB (Sweden)
• Volvo Financial Services AB (Sweden)
• Mack Trucks, Inc. (USA)
• Renault Trucks SAS (France)

Physical Properties (Offices, Plants, Factories)

The Volvo Group operates production facilities in 17 countries globally. The industrial system consists of capital-intensive component factories and labor-intensive assembly plants.

Key Manufacturing Sites

• Sweden: Gothenburg (HQ and main plants), Skövde (Powertrain), Braås, Arvika, Vara.
• USA: Lehigh Valley (Pennsylvania – Mack Trucks), Hagerstown (Maryland – Powertrain), New River Valley (Virginia – Volvo Trucks), Greer (South Carolina – Battery assembly).
• France: Lyon, Bourg-en-Bresse.
• Belgium: Ghent.
• Brazil: Curitiba.
• India: Bangalore (Volvo Group and joint ventures).
• China: Production through joint ventures like DFCV and SDLG.
• Mexico: Monterrey (New heavy-duty truck plant announced, operational in 2026).

Logistics and R&D

• R&D Facilities: Located in Sweden, France, USA, Brazil, and India.
• Distribution: Logistics centers and distribution hubs spanning over 500 individual addresses globally.

Segment-wise Performance

Trucks

• Performance: Currency-adjusted net sales decreased by 2%. Adjusted operating margin was 12.7%.
• YoY Movement: Lower deliveries in Europe and North America; growth in South America. Service sales increased by 3%.

Construction Equipment

• Performance: Currency-adjusted net sales declined by 15%. Adjusted operating margin was 14.4%.
• YoY Movement: Deliveries of Volvo-branded machines decreased by 27%, while SDLG deliveries in China increased by 30%.

Buses

• Performance: Currency-adjusted net sales increased by 10%. Adjusted operating margin improved significantly to 9.1%.
• YoY Movement: Strong demand for coaches in North and South America. Deliveries increased by 9% to 6,274 units.

Volvo Penta

• Performance: Currency-adjusted net sales decreased by 4%. Adjusted operating margin improved to 17.2%.
• YoY Movement: Weaker demand in marine leisure; stable industrial engine demand. Deliveries decreased by 20% to 35,651 units.

Financial Services

• Performance: Adjusted operating income increased to SEK 4,042 million. Return on equity was 13.0%.
• YoY Movement: New business volume decreased by 1% adjusted for currency. Credit portfolio performed well.

Founders

The Volvo Group was founded in 1927. While the provided text does not explicitly detail the biographies of the founders Assar Gabrielsson and Gustaf Larson, it repeatedly references the founding year as the starting point of the Group’s commitment to shaping the future of transport. The company headquarters remains in Gothenburg, Sweden, where it was established.

Shareholding Pattern

Major Shareholders

• AB Industrivärden: 28.0% of votes, 9.4% of capital.
• Geely Holding: 14.7% of votes, 4.4% of capital.
• AMF Insurance & Funds: 5.6% of votes, 3.7% of capital.
• Alecta: 4.0% of votes, 2.7% of capital.

Share Structure

• Series A Shares: Carry one vote each.
• Series B Shares: Carry one-tenth of a vote each.
• Total Outstanding Shares: 2,033,452,084.
• Number of Shareholders: 396,699 at year-end 2024.

Parent

Aktiebolaget Volvo (publ) is the parent company of the Volvo Group. It is a limited liability company listed on Nasdaq Stockholm. The parent company is responsible for the overall strategy, governance, and management of the Group’s operations through its subsidiaries and joint ventures.

Investments and Capital Expenditure Plans

R&D Spending

• Total R&D Expenses (2024): SEK 30,957 million (2023: SEK 26,645 million).
• Focus: A substantial part of investments is directed towards zero-tailpipe emissions technology, autonomous solutions, and digitalization.

Capital Expenditure (Capex)

• Investments in Property, Plant, and Equipment (2024): SEK 13,892 million.
• Strategic Investments:
  • Mexico Plant: Investment of approximately SEK 7 billion for a new heavy-duty truck plant in Monterrey.
  • Battery Plants: Development of battery module and pack assembly in Greer, South Carolina.
  • Proterra Acquisition: SEK 2.2 billion for battery business assets.

Strategic Priorities

• Decarbonization: Three-pronged approach (Battery Electric, Fuel Cell Electric, Internal Combustion Engines with renewable fuels).
• Product Renewal: Major launches in 2024, including the new Volvo VNL and FH Aero.
• Partnerships: Collaborations like Flexis, Milence, and Cespira to accelerate technology adoption.

Future Strategy

The Volvo Group is gearing up for growth by leveraging its leading position and strong assets.

Strategic Direction

• Net Zero by 2040: Ambition to reach net-zero value chain greenhouse gas emissions by 2040.
• Service Growth: Increasing service revenue to balance fluctuations in vehicle sales.
• Technology Leadership: Driving the development of electrified and autonomous vehicles.
• North America: Gaining market share through new products (Volvo VNL) and increased industrial capacity (Mexico plant).

Key Initiatives

• Electrification: Launching a long-range Volvo FH Electric with up to 600 km range in 2025.
• Hydrogen: Testing hydrogen combustion engines on roads in 2026, with commercial launch planned towards the end of the decade.
• Software-Defined Vehicles: Joint venture with Daimler Truck to develop a common software-defined vehicle platform.

Key Strengths

• Global Scale: Sales in almost 180 markets and production in 17 countries provide economies of scale.
• Strong Brands: A portfolio of reputable brands like Volvo, Mack, and Renault Trucks addressing different customer segments.
• Financial Strength: A net financial asset position of SEK 85.9 billion in Industrial Operations.
• Service Network: Extensive global service network driving recurring revenues and customer loyalty.
• Technology Leader: Market leader in electric heavy-duty trucks in Europe with 70% share.
• High Profitability: Consistent delivery of high operating margins (adjusted margin of 12.5% in 2024).

Key Challenges and Risks

• Cyclical Industry: Demand for commercial vehicles is highly dependent on GDP development and economic activity.
• Supply Chain: Risks related to shortages of materials, components, and transport services.
• Geopolitical Instability: Operations subject to political and economic risks in a global environment.
• Technology Transformation: Risks associated with the rapid shift to electric and autonomous technologies, including infrastructure availability and cost.
• Regulatory Compliance: Stringent regulations regarding emissions (e.g., Euro 7) and safety requirements.
• Competition: Intense competition from global and local peers, as well as new market entrants.

Conclusion and Strategic Outlook

In 2024, the Volvo Group demonstrated remarkable resilience and strategic execution in a normalizing market. By delivering an adjusted operating income of SEK 65.7 billion and maintaining a high return on capital employed of 35.8%, the Group proved its ability to generate strong earnings even with lower sales volumes. The company is aggressively investing in the future, with record R&D spending and major capital projects like the new plant in Mexico.

Looking ahead, the Volvo Group is well-positioned to lead the transformation towards sustainable transport. With a clear roadmap to net-zero by 2040, a three-pronged technology approach, and strategic partnerships, the Group aims to capture the opportunities presented by electrification and digitalization. The focus on service growth and North American expansion provides a solid foundation for future value creation for shareholders and stakeholders alike.

Official Site: https://www.volvogroup.com/

FAQ Section

1. What is the revenue of AB Volvo in 2024? In 2024, AB Volvo (Volvo Group) reported net sales of SEK 527 billion.

2. How many employees does Volvo Group have? The Volvo Group employs approximately 102,000 people worldwide.

3. What are the main business segments of Volvo Group? The main segments are Trucks, Construction Equipment, Buses, Volvo Penta (engines), and Financial Services.

4. What is Volvo Group’s climate target? The Volvo Group has an ambition to reach net-zero value chain greenhouse gas emissions by 2040.

5. Which brands does Volvo Group own? The brand portfolio includes Volvo, Volvo Penta, Rokbak, Renault Trucks, Prevost, Nova Bus, and Mack Trucks.

6. Who is the CEO of Volvo Group? Martin Lundstedt is the President and CEO of the Volvo Group.

7. Where is Volvo Group headquartered? The Volvo Group is headquartered in Gothenburg, Sweden.

8. What was the dividend per share for 2024? The Board proposed an ordinary dividend of SEK 8.00 and an extra dividend of SEK 10.50 per share.

Content is based on publicly available corporate filings, regulatory disclosures, annual reports, 10-K filings, Investor Relations materials, and direct mail communication with the company.