|Bid||144.60 x 0|
|Ask||144.80 x 0|
|Day's Range||142.50 - 144.80|
|52 Week Range||113.30 - 154.90|
|Beta (3Y Monthly)||1.39|
|PE Ratio (TTM)||9.26|
|Forward Dividend & Yield||5.00 (3.49%)|
|1y Target Est||N/A|
Building on sales of electric trucks for urban transport in Europe, Volvo Trucks (NASDAQ: VLVLY) has developed electric concept trucks for construction operations and regional distribution. The plan is to pilot a small number of future electric vehicles with a few selected customers in Europe. "We see great potential for heavy-duty electric trucks for regional transport and construction in the longer term," Volvo Trucks President Roger Alm said in a release.
Volvo Group Venture Capital has invested in Autotech Ventures, a venture capital firm located in Silicon Valley. A spokesman said the deal was expected to yield near-term results in fields of specific focus for Volvo including connected, autonomous, electrified vehicles and related mobility services. The spokesman would not disclose the size of the investment in Autotech Ventures, which currently manages over $200 million and focuses on the $3 trillion ground transportation sector.
Volvo Group Venture Capital AB has invested in Autotech Ventures - a leading American venture capital fund focusing on start-ups in the ground transportation sector.
The hype surrounding zero-emission electric trucks is evolving into real-world results for two major freight haulers. Penske Logistics (NYSE: PAG) claimed Dec. 3 it was the first to cross the 10,000-mile threshold. NFI industries told FreightWaves on Dec. 5 it is approaching 14,000 miles on drayage runs between Chino, California, and the ports of Long Beach and Los Angeles.
Volvo is making an investment in Palo Alto-based Apex.AI, a startup working on developing a robotic operating system qualified for use in production automobiles. Apex.AI, founded by automated systems engineers Jan Becker and Dejan Pangercic, raised $15.5 million in a Series A last November, and revealed that its focus is on developing an enterprise-focused version of the Robot Operating System open-source middleware. The former aims to provide a set of simple-to-integrate APIs that can give automakers and others access to fully certified autonomous mobility technology, while the latter is more focused on specific elements and components for those looking to make use of specific elements of autonomous technology, including perception, localization, path planning and more.
The Volvo V60 T8 Polestar Engineered has a lot going for it right out of the gate. First, Volvo styling is hard not to like, and its wagons are quite possibly the best examples of the automaker’s current exterior design. Second, this is the T8, the plug-in hybrid, which adds electric range and power to the mix.
As promised, Fisker on Wednesday opened the order books for its forthcoming Ocean battery-electric SUV and announced pricing and other details ahead of its launch in 2022. Also as promised, the eco-luxury ‘ute will come in well below what Volvo is charging under its Care by Volvo subscription program. Fisker will make the Ocean available primarily through a monthly lease that starts at $379 per month through its mobile app, which is now live for iOS and Android platforms.
Volvo Trucks North America will lay off about 700 workers in January, extending an industry pullback in production to match slowing orders of new Class 8 trucks. Volvo's Nov. 22 announcement, reported by The Roanoke Times in Virginia, comes weeks after about 80% of the workforce in Dublin was temporarily laid off due to a parts shortage stemming from a United Auto Workers strike at its corporate sibling Mack Trucks. A Volvo spokesman did not immediately respond to requests for comment.
Volvo Trucks North America and the Western Star brand of Daimler Trucks North America will recall nearly 3,700 trucks between them for separate steering-related issues that could cause a crash. Volvo Trucks is recalling certain 2020 VNR and VNL vehicles because the steering gear mounting fasteners may be insufficiently tightened, allowing the steering gear to loosen. The recalled Class 8 trucks were manufactured from Jan. 1, 2019, through Oct. 17, 2019.
Volvo Trucks has started selling its "urban" electric trucks in key European markets. The manufacturer claims the models, which have no exhaust emissions and reduced noise levels, will help meet the increasing demand for sustainable transport solutions in city environments. Sales of the Volvo FL (gross vehicle weight 16 tons) and Volvo FE (gross weight 27 tons) have now begun in France, Germany, the Netherlands, Norway, Sweden and Switzerland.
Volvo Cars said on Wednesday it will make the cobalt used in its batteries globally traceable using blockchain technology, following an agreement with its two battery suppliers, China's CATL and South Korea's LG Chem. Volvo, owned by China's Geely Holding, has lined up deals with CATL and LG Chem covering the battery supply over the coming decade for next generation Volvo and Polestar models, including the recently launched electric model XC40 Recharge.
The United Auto Workers voted 79% in favor of a new four-year contract at Mack Trucks following a 12-day strike that idled six facilities in three states and halted production at Volvo Trucks' only assembly plant in North America. Mack President Martin Weissburg told FreightWaves on Oct. 28 that Mack should be able to make up production lost during the strike because new orders are slow and the backlog of trucks awaiting production is shrinking. "Through the new four-year agreement, the UAW looks to further expand its long-term relationship with Mack Trucks," said Ray Curry, UAW secretary-treasurer and director of the UAW Heavy Truck Department.
Volvo Trucks North America unveiled its new VNR 660 truck, expanding its offerings for regional-haul applications, on Oct. 28 at the North American Commercial Vehicle (NACV) Show in Atlanta, Georgia. The ...
Mack Trucks is well on its way to making up lost production from a 12-day United Auto Workers' strike and sees state-level infrastructure spending buoying its off-highway vocational truck business in 2020. The UAW struck Mack for the first time in 35 years from October 14-25, idling 3,500 workers at six facilities in three states. The strike also caused Volvo Trucks North America to halt production at its plant in Dublin, Virginia because it shares an engine and transmission plant in Hagerstown, Maryland with Mack.
The United Auto Workers is ending its strike against Mack Trucks after 12 days. The first walkout in 35 years idled six facilities in three states and forced the layoff of 3,000 workers at Volvo Trucks only North American assembly plant. Mack Trucks announced the tentative agreement on Thursday evening, October 24.
Volvo Group Venture Capital is investing in an Israeli automotive cybersecurity startup to help protect its one million "connected assets," which it claims exceeds any competitor. "Our mission is to protect every connected vehicle and smart mobility service on the planet," said Yoav Levy, Upstream Security co-founder and CEO. The trucking industry and its supply chain rank fifth among all businesses at risk of cybersecurity attacks as the number of possible threats against the transportation sector has grown 100-fold in just four years, according to cyber experts.
Connectivity, electric trucks and autonomous vehicles were highlighted by Peter Voorhoeve, president of Volvo Trucks North America (VTNA) at Transport Expo ANPACT 2019. The event, which is being held in Puebla, Mexico from October 15-18, is an international exhibition for passenger and freight transportation. The expo is hosted by Mexico's national association of heavy duty truck and bus manufacturers (ANPACT).
AB Volvo (OTC: VLVLY) reported higher third-quarter profits and sales on Friday, October 18. Volvo earned $1.12 billion compared with $1.05 billion in the July-to-September period a year ago. Volvo shares have fallen 7% in value over the last six months as the truck market has cooled.
Swedish truckmaker AB Volvo reported a sharp decline in third-quarter orders and forecast a demand slump on both sides of the North Atlantic next year, taking the shine off forecast-beating earnings. Chief Executive Martin Lundstedt told a news conference that AB Volvo is well prepared for what he described as an expected correction in its main markets. Lundstedt said the Gothenburg-based company had reduced production volumes over the past quarter and would make further adjustments over coming quarters in light of declining orders.
Swedish truckmaker AB Volvo reported a sharp decline in third-quarter orders and forecast a demand slump on both sides of the North Atlantic next year, taking the shine off forecast-beating earnings. After years of strong demand, signs of a slowdown in commercial vehicles markets that have always been prone to violent cyclical swings have become increasingly apparent in recent months amid concern over international trade and the global economy. Chief Executive Martin Lundstedt told a news conference that AB Volvo is well prepared for what he described as an expected correction in its main markets.
The impact of a United Auto Workers' strike at Mack Trucks will nearly double next week when Volvo Trucks North America lays off about 3,000 employees because of a lack of engines and transmissions that come from a Maryland plant the companies share. A Volvo Group spokesman on Thursday confirmed the ripple effect of the 4-day-old strike on its New River Plant in Dublin, Virginia. "We communicated to our employees this morning that NRV will stop production Monday because of the effects of the strike at our Hagerstown powertrain operations," spokesman John Mies told FreightWaves.