Latest news with #ABVolvo
The Star
10 hours ago
- Automotive
- The Star
Volvo Group, Daimler look to technology joint venture in bid to save costs
FILE PHOTO: President and CEO of AB Volvo Martin Lundstedt stands in front of a Volvo truck, on the occasion of the publication of an interim report, in Gothenburg, Sweden, April 20, 2023. TT News Agency/Adam Ihse/File Photo GOTHENBURG (Reuters) -European truckmaking rivals AB Volvo and Daimler Truck hope to cut costs and reduce reliance on suppliers by jointly developing a software-defined vehicle program, they said on Tuesday. Fleets and truck manufacturers, like automakers, have been racing to produce technology-packed vehicles while also grappling with the need to reduce costs. Truckmakers are currently heavily reliant on suppliers because their software is closely tied to hardware, but Daimler and Volvo's new business - called Coretura - aims to develop a software-defined vehicle platform and reduce that dependence. The companies are looking to create an "industry standard", Daimler Trucks CEO Karin Radstrom told reporters. "We're looking at how we can move from our current reality where we are very much dependent on our suppliers - which drives both cost and sometimes timelines - and instead looking at what's the next generation of software that we need to bring to the vehicle", Radstrom said. The Gothenburg-based venture will employ 50 employees to start, with the hope of first deliveries of its connectivity platform in 2027 and further deliveries towards the end of the decade. "Everything in the vehicle industry is very much oriented around software and controlled by software", said Johan Lunden, a Volvo veteran and the newly appointed CEO of Coretura. Software will play an increasingly vital role in achieving sustainability, productivity, and safety targets in the future, he added. While rivals, Volvo Group and Daimler have collaborated on various businesses in recent years, such as within charging and hydrogen fuel cell development. (Reporting by Marie Mannes in Gothenburg and Jesus Calero in Gdansk; Editing by Matt Scuffham)
Yahoo
09-06-2025
- Automotive
- Yahoo
Electric Truck Market worth $32,133.4 million by 2032
DELRAY BEACH, Fla., June 9, 2025 /PRNewswire/ -- The electric truck market is estimated at USD 5,247.2 million in 2025. It is projected to grow at a CAGR of 29.5%, reaching USD 32,133.4 million by 2032, according to a new report by MarketsandMarkets. The electric truck market is swiftly evolving as governments and fleets push for cleaner freight solutions. With prominent players such as AB Volvo and BYD rolling out models for urban delivery and long-haul routes, adoption is accelerating. For instance, in September 2024, AB Volvo launched a new electric truck with a 372-mile range per charge designed for long-haul transport. The model uses advanced battery technology to improve operational efficiency and reduce emissions. Incentives, emission targets, and expanding charging networks are further making electric trucks more practical. Light-duty models are leading adoption in cities, while medium- and heavy-duty segments are gaining momentum. As infrastructure and battery technology improve, electric trucks are poised to reshape global commercial transport. Download an Illustrative overview: Browse in-depth TOC on "Electric Trucks Market" 120 - Tables124 - Figures384 - Pages Lithium-Nickel-Manganese-Cobalt Oxide is expected to be the largest and fastest growing segment. The electric truck market, by battery type, is dominated by the Lithium-Nickel-Manganese-Cobalt Oxide (NMC) battery. Leading manufacturers such as Ford, Scania, and Rivian integrate NMC batteries into their vehicles to optimize performance and range. These batteries have a higher energy density than Lithium Iron Phosphate (LFP) batteries. Additionally, the declining cost of NMC batteries has brought them closer to price parity with LFP batteries, enhancing their market appeal. While LFP batteries are gaining traction, mainly due to their longer lifecycle, the adoption of NMC batteries is expected to rise significantly, particularly across European and North American markets, driven by performance requirements and energy density advantages. As OEMs expand electric truck offerings across various duty cycles, battery chemistry selection is becoming increasingly application specific. NMC batteries, with their compact size and high-power output, are well-suited for long-haul and heavy-duty operations where space and energy demands are critical. Conversely, LFP batteries are preferred in short-haul, urban, and light-duty applications due to their lower thermal risk and extended cycle life. Manufacturers are also investing in flexible battery platforms to accommodate both chemistries, ensuring adaptability across diverse fleet requirements. This dual-chemistry strategy is expected to drive innovation and competitiveness in the electric truck battery ecosystem. Heavy-duty trucks are anticipated to secure a leading market position. By type, heavy-duty trucks are emerging as the most influential segment in the electric truck market, driven by the global push to decarbonize long-haul and high-load freight transportation. These trucks are central to logistics and industrial operations, which contribute disproportionately to carbon emissions. Despite accounting for less than 20% of vehicle sales, medium- and heavy-duty trucks contribute nearly 40% of transport-related greenhouse gas emissions. This imbalance has compelled policymakers, particularly in North America and Europe, to mandate electrification across high-emission commercial fleets. Government frameworks like California's Advanced Clean Trucks (ACT) regulation and Canada's 2040 zero-emission target for MHDVs have fueled OEM investment, accelerated innovation, and increased deployment of electric heavy-duty trucks. Modern heavy-duty electric trucks now rival diesel counterparts in both performance and range. For instance, the Tesla Semi, with a battery capacity of 900–1000 kWh, offers a range of up to 500 miles and supports Class 8 logistics applications. Similarly, Freightliner's eCascadia, launched by Daimler Truck North America, provides a 200–250-mile range and is used for regional haul and intermodal operations. Volvo's VNR Electric, with a 565-kWh battery pack, offers a range of up to 270 miles and targets heavy-duty urban distribution. These models illustrate how manufacturers are integrating high-capacity batteries and advanced propulsion to serve long-haul, last-mile, and intercity freight demand. Fleet operators increasingly favor these trucks due to the reduced total cost of ownership (TCO), resulting from savings in fuel, maintenance, and emissions compliance. PepsiCo, for example, began deploying the Tesla Semi to fulfill long-haul logistics in the US, helping the company meet its sustainability commitments with zero tailpipe emissions. As infrastructure scales and regulations tighten, heavy-duty trucks are set to remain pivotal to commercial EV adoption globally. The European electric market is projected to grow significantly. France, Germany, the Netherlands, Norway, Sweden, and the UK are core markets under the European electric truck landscape. The region is governed by stringent emission regulations, with national governments actively incentivizing the electrification of transport. Policies such as tax exemptions, vehicle purchase subsidies, and infrastructure funding have collectively accelerated the shift toward electric trucks. Countries like Germany and the Netherlands have also introduced aggressive clean mobility programs that align with the EU Green Deal and Fit for 55 climate targets, impacting transport emissions and market expansion. In 2024, Daimler Truck AG announced a substantial investment into its European e-mobility segment, launching next-generation electric variants such as the Mercedes-Benz eActros 600, which offers over 300 miles of real-world range. Similarly, Volvo Trucks scaled production of its FH Electric and FM Electric models across its Gothenburg and Ghent plants, with confirmed orders from logistics giants such as DFDS and DHL. Furthermore, Europe is home to the world's leading electric truck manufacturers, including AB Volvo, Mercedes Benz Group AG, and Scania AB. These OEMs are driving innovation in electric powertrain technologies, battery integration, and range performance, positioning the region at the forefront of electric truck production. As manufacturers expand their electric truck portfolios to include light, medium, and heavy-duty variants, fleet operators across logistics, construction, and municipal sectors are increasingly adopting battery-electric alternatives. This well-established industrial base provides the technological foundation and supply chain efficiency needed to scale adoption. To ensure a smooth transition, European governments are heavily investing in public and private charging infrastructure while continuing to offer long-term support for vehicle electrification. Funding mechanisms under the EU Recovery and Resilience Facility, as well as national climate programs, are prioritizing clean transport projects. With policy alignment, OEM leadership, and improved environmental awareness, the electric truck market in Europe is set for sustained and robust growth. Key Market Electric Truck Industry: Prominent players in the Electric Truck Companies include as BYD (China), AB Volvo (Sweden), Ford Motor Company (US), Dongfeng Motor Corporation (China), and Rivian (US). Get 10% Free Customization on this Report: This report provides insights on: Analysis of Key Drivers (declining battery costs, extended electric truck range, government initiatives for commercial vehicles, elevated demand for electric trucks in logistics and commercial sector), Restraints (high initial investment for production, lack of EV charging infrastructure, extended charging duration), Opportunities (development of self-driving truck technology, rapid development in fuel cell technology), and Challenges (insufficient standardization of EV charging infrastructure and low availability of lithium for EV batteries) influencing the growth of the electric truck market Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product & service launches in the electric truck market Market Development: Comprehensive information about lucrative markets – the report analyzes the electric truck market across varied regions Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric truck market Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like BYD (China), AB Volvo (Sweden), Ford Motor Company (US), Rivian (US), Dongfeng Motor Corporation (China), among others in the electric truck market Related Reports: Electric Scooter and Motorcycle Market Electric Vehicle Market Electric Commercial Vehicle Market Get access to the latest updates on Electric Truck Companies and Electric Truck Industry Growth About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets Sign in to access your portfolio
Yahoo
28-04-2025
- Automotive
- Yahoo
Electric Vehicles Today - Off-Highway Electric Vehicles Set for Major Market Growth
The off-highway electric vehicle (OHEV) market is set to expand significantly, with projections indicating growth from $5.48 billion in 2024 to $56.48 billion by 2034. This expansion is largely driven by the increasing adoption of electric technologies in the construction, agriculture, and mining sectors as they strive to reduce emissions and improve operational efficiencies. Key factors contributing to this growth include technological innovations in battery efficiency, charging infrastructure, and the performance of electric vehicles, all bolstered by stringent environmental regulations and a broader focus on sustainability. North America currently leads the market, benefiting from a strong industrial base and supportive government policies, while major companies like AB Volvo and Caterpillar are at the forefront of developing sustainable electric solutions. As the demand for emissions and noise reduction in industrial practices rises, the OHEV market continues to garner attention despite challenges such as high upfront costs and energy storage limitations. Elsewhere in the market, was a standout up 9.8% and finishing the session at $284.95. In the meantime, trailed, down 5.2% to end trading at CN¥16.33. Tesla's upcoming autonomous vehicles and robots could unlock significant profit potential. Click to explore Tesla's strategic initiatives and potential market impact. For more on this topic, check out our Market Insights article, "Automakers Caught In The Tariff Crossfire," which explores the current challenges and opportunities in the electric vehicle sector amid tariff uncertainties. Don't miss it! closed at $10.04 down 0.2%. ended the day at HK$381.20 down 4%. Last week, BYD announced its Q1 2025 earnings, showing significant growth in both sales and net income compared to the previous year. Jump into our full catalog of 48 EV Stocks, which includes Sumitomo Electric Industries, Eaton and Guangzhou Automobile Group, here. Seeking Other Investments? Trump has pledged to "unleash" American oil and gas and these 22 US stocks have developments that are poised to benefit. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "Off-Highway Electric Vehicle Market Analysis and Forecast, 2024-2034 | Stricter Environmental Regulations Propel Off-Highway EV Adoption" from Research and Markets on GlobeNewswire (published 28 April 2025) Companies discussed in this article include NasdaqGS:TSLA NYSE:F SEHK:1211 and SZSE:002085. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Business Recorder
23-04-2025
- Automotive
- Business Recorder
Truck maker Volvo profit falls more than expected, cuts North America market outlook
Swedish truck maker AB Volvo reported a bigger-than-expected fall in first-quarter operating profit on Wednesday and lowered its North America truck market outlook for 2025. Volvo Cars braces for challenges in 2023 after quarterly profit falls Operating profit was 13.26 billion crowns ($1.39 billion) against a year-earlier 18.16 billion and a mean forecast in an LSEG poll of analysts of 14.82 billion.
Yahoo
23-04-2025
- Automotive
- Yahoo
Truck maker Volvo profit falls more than expected, cuts North America market outlook
(Reuters) -Swedish truck maker AB Volvo reported a bigger-than-expected fall in first-quarter operating profit on Wednesday and lowered its North America truck market outlook for 2025. Operating profit was 13.26 billion crowns ($1.39 billion) against a year-earlier 18.16 billion and a mean forecast in an LSEG poll of analysts of 14.82 billion. ($1 = 9.5533 Swedish crowns) Sign in to access your portfolio
