Our story

From the very outset Volvo Cars has been a brand for people who care about the world we live in and the people around us. We have made it our mission to make life easier, better and safer for everyone.

A Family with kids running in the backyard

For a better future.
We want to provide you with the freedom to move in a personal, sustainable and safe way.

Personal

With new models of car ownership and attractive services whenever and wherever you need, we aim to make your life less complicated.

Sustainable

To help protect the world we share, we must do more than merely electrify our cars. We’re committed to rethinking sustainability in our operations, in our cars and in society.

Safe

We make cars for people who care about other people. So when it comes to safety, we think just as much about your surroundings as we do about you and your passengers.

Our performance in numbers

Our record-breaking first half of 2021 delivered strong growth, premium profitability and demonstrated how we’re accelerating our transformation.

13.24bn

Operating income (EBIT)(SEK)

9.4%

EBIT margin

381K

Retail sales (units)

141.13bn

Revenue (SEK)

Our strategy

Fast growth

A leather-free front seat in a Volvo.Fast growthWe’re one of the fastest growing premium brands. Our distinct brand and values are in tune with societal trends. We have a strong performance track record and our product plan and installed capacity are geared for growth.

ElectrificationWe’re a leader in the fast-growing premium electric segment. Our product plan is focused on full electrification, boosted by a clear battery technology roadmap. By mid-decade we want 50 per cent of our sales to be pure electric – then all fully electric by 2030.

Direct consumer relationshipsOur relationships with our customers grow closer every day, built together with strong retail partners. We’re meeting consumers when and where they choose, and we simplify mobility with online and subscription options.

A leather-free front seat in a Volvo.Leading new technologyWe’re developing our own new core computing technology for speed and value creation. Our software development is moving in-house, for pace. We’ll improve a car over its lifecycle. Our increasing capabilities will help us deliver the next level of safety and autonomous drive technology.

Fastest transformerWe have a unique structure with our distinct culture and open tech partnerships. Our access to partnerships with leading tech peers contributes to our fast transformation – we want to be the employer of choice and preferred partner.

Fast growth

We’re one of the fastest growing premium brands. Our distinct brand and values are in tune with societal trends. We have a strong performance track record and our product plan and installed capacity are geared for growth.

A leather-free front seat in a Volvo.

Electrification

We’re a leader in the fast-growing premium electric segment. Our product plan is focused on full electrification, boosted by a clear battery technology roadmap. By mid-decade we want 50 per cent of our sales to be pure electric – then all fully electric by 2030.

Direct consumer relationships

Our relationships with our customers grow closer every day, built together with strong retail partners. We’re meeting consumers when and where they choose, and we simplify mobility with online and subscription options.

Leading new technology

We’re developing our own new core computing technology for speed and value creation. Our software development is moving in-house, for pace. We’ll improve a car over its lifecycle. Our increasing capabilities will help us deliver the next level of safety and autonomous drive technology.

A leather-free front seat in a Volvo.

Fastest transformer

We have a unique structure with our distinct culture and open tech partnerships. Our access to partnerships with leading tech peers contributes to our fast transformation – we want to be the employer of choice and preferred partner.

We’re ambitious

We want to disrupt the auto industry and be a leader in safety, sustainability, online business and set a new global people standard. Our mid-decade ambitions set a clear path for us as we rise to meet our – and society’s – challenges.

Volvo Cars are working towards climate neutrality by 2040.

We’re growing fast and have achieved new sales records each year since 2015. We continue to build on that momentum as we strive to reach annual sales of 1.2 million cars by mid-decade.

We’ve introduced our pure electric XC40 Recharge and C40 Recharge – that’s just the start. By mid-decade, we’re aiming for at least 50 per cent of our global sales volume to be fully electric cars, with the rest hybrids. This is a critical step towards being fully electric by 2030.

We meet our customers when and where they choose. They’re increasingly online – so are we. By mid-decade we want at least half of our sales to be online, so we can deliver the simplicity and convenience consumers expect, including physical touchpoints through our strong retail partners.

We aim to seize the opportunities created by the growing premium electric segments and our ambitions are high – by mid-decade we want to be achieving an 8-10% EBIT margin.

By mid-decade, we’re aiming to reduce our overall CO2 lifecycle emissions per car by 40 per cent, compared to 2018. This means more than simply reducing tailpipe emissions – electrification is not enough. We must reduce CO2 emissions across our operations and supply chain.

We’re taking software development in-house as a car’s appeal will be defined by software-driven functions and features. The next generation of pure electric Volvo models will run on our own operating system. Our mid-decade ambition is to have 50 per cent of all software developed in-house.

We’re global and so is our workforce. Our teams thrive on being a mixing pot of different ideas, experiences, backgrounds and personalities. Diverse and inclusive teams make quality decisions – they’re critical to our ongoing success. So we strive to be the employer of choice.

Volvo Car Group – meet the family

Volvo Car Group is owned by Geely Holding. Our group structure includes Volvo Cars, software company Zenseact (85 per cent owned by Volvo Cars) and mobility company M. Volvo Car Group also includes the sizeable stakes in our strategic affiliates: electric performance brand Polestar (49.5 per cent owned by Volvo Cars) and fast-growing brand LYNK & CO (30 per cent). Joint ventures: HaleyTek – Volvo Cars and ECARX – developing infotainment platforms based on Android Automotive, for the group and beyond. Aurobay – Volvo Cars and Geely Holding (33 per cent owned by Volvo Cars) – creating synergies in the development and production of low-emission combustion engine powertrains, for the group and beyond.

A white Polestar

Polestar

The electric performance vehicle brand.

A white Lynk&Co

Lynk & Co

Flexible tech-driven mobility that redefines car accessibility.

An autonomous driving technology

Zenseact

Our autonomous drive software development subsidiary.

A mobility car

M

Our car sharing mobility company.

We’re global

Since 1927, our global headquarters has remained in our hometown, Gothenburg, Sweden. Our Americas head office is in Mahwah, New Jersey; our APAC head office is in Shanghai. We produce cars in Gothenburg (Sweden); Ghent (Belgium); Charleston (US); Chengdu, Daqing and Taizhou (China). Our cars are sold in more than 100 countries. Watch this film to learn more details about our global presence.

The man behind Volvo’s Lambda sensor system shows his invention.

Corporate information

Our Investors section will guide you through our company's leadership, reports, governance and other corporate information.

The man behind Volvo’s Lambda sensor system shows his invention.

From past to present

Our unique heritage forms what we do today and shapes the way we think of the future. Come with us on an exciting trip down memory lane and learn more about our eventful history and iconic cars.

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