On November 30, Volvo Cars disclosed the company's third quarter earnings, the first three quarters of the company's revenue reached 202 billion Swedish kronor, up from 177.5 billion Kronor in the same period last year, a year-on-year increase of 13.8%. Operating profit was SKr16.6bn, with a margin of 8.2 per cent.
It is reported that in addition to the continued growth in revenue, The overall sales of Volvo cars in the first three quarters reached 530,600 units, up 18% year-on-year, achieving double growth in sales and revenue. Among them, the company RECHARGE model sales accounted for 26% of the global sales in the third quarter (plug-in hybrid models accounted for 22%, pure electric vehicles accounted for 4%), a new record high, the highest proportion of electric vehicles in the total sales among traditional automakers.
Volvo Cars says it started production of its second all-electric vehicle, the Volvo C40 RECHARGE, in October. At the same time, Volvo cars will increase the production capacity of pure electric models at its Ghent, Belgium and Taizhou, China manufacturing plants, which are expected to increase the annual production capacity of pure electric models from the current 15,000 to more than 150,000 by summer 2022.
Battery net understands, on October 29, Volvo cars in Sweden Stockholm stock exchange (belonging to the nasdaq group) officially listed, trading code for "VOLCAR B", the parent company geely will continue to be its largest shareholder, the company goal by 2030 to become pure electric vehicles, by 2040 to become the world's climate zero load benchmarking enterprises.
Hanken Samuelson, president and CEO of Volvo Car Group, is reported to have said that the volvo-NorthVolt battery plant will be based on "a very small number of options" and a decision will be made later this year on the exact location of the plant, which will supply batteries for the next generation of cars in Europe. Meanwhile, Volvo will need a similar battery plant in Asia in the future to solve the problem of battery supply in the region.
Notably, in September, Geely and Volvo-owned electric car maker Polaris announced that Gores Guggenheim, an American special-purpose buy-out company backed by billionaire Alec Gores and Guggenheim Partners, an investment bank, is to be floated in a merger valued at $20bn.
In addition to the passenger car field, Volvo Group in the commercial vehicle field also frequently. August 23 this year, Volvo trucks and jiangling motors through online ceremony formally signed an agreement, through its acquisition of jiangling motor's 100% stake in jiangling sinotruk and its production base in taiyuan, Volvo trucks will establish wholly owned Volvo truck production base in China, better serve the world's largest truck market in China. Volvo Trucks aims to produce Volvo FM, FH and FMX series heavy-duty trucks for Chinese customers in Taiyuan from the end of 2022. Both new FH and FM models have already been developed for electric vehicles, with production scheduled to begin in 2022, and fuel-cell electric trucks are planned to be rolled out over the next few years.
About Manly
More than 12 years of experience in producing lithium battery cells and battery packs for various applications. Welcome to send your requiry to info@manlybattery.com
