Volvo Car Group
In coming years, we aim to capitalise on and lead the disruption currently underway in the automotive industry. By joining forces with other companies and working closer together with our owner and sister brands, we will realise the strength and economies of scale that are needed to remain competitive. These ambitions come together in the Volvo Car Group, which comprises Volvo Cars and related businesses to form a diversified, modern car company.
The core of the Volvo Car Group is Volvo Cars, one of the world’s most successful premium car companies and a leader in automotive safety, electrification and autonomous drive. Polestar, our electric performance car brand created in 2017 and in which we own a 50 per cent stake, acts as an innovation lab for electric vehicle technology, cutting-edge design and new forms of ownership.
We also own a 30 per cent stake in Lynk & Co, a new car brand created by Geely in 2016. The sharing of technology between Lynk & Co and Volvo, as well as joint production, create economies of scale.
The Care by Volvo business allows us to develop its subscription model, create new and recurrent sources of revenue, and establish direct contacts with consumers. Mobility brand M is an exciting new car sharing business which also provides important insights into predicting supply and demand and how to directly manage a large fleet of cars.
Beyond these direct-to-consumer businesses, Volvo Car Group also includes an important strategic investment. Zenseact was formed recently as a new entity wholly owned by Volvo Cars, following the split-up of Volvo Cars’ joint venture company with Veoneer. Zenseact develops autonomous and driver assistance systems for use in Volvos and other related brands, providing additional revenue.