Press Releases

Volvo Cars and the Volvo Group to transfer ownership of Volvo Ocean Race

 

After successfully running the Volvo Ocean Race for 20 years, Volvo Cars and the Volvo Group have decided to transfer the Volvo Ocean Race to Atlant Ocean Racing Spain S.L, affiliated to parts of the current race organisation's management team. 

 

“After 20 years we feel that it is time to hand over responsibility for this prestigious race to a new and capable owner with the focus, experience and know-how needed to develop it even further,” said Björn Annwall, Senior Vice President of Strategy, Brand and Retail at Volvo Cars. “Volvo Cars will continue to support the next edition of the race as a sponsor with special focus on sustainability.”

 

“The Volvo Ocean Race has been a great vehicle for building customer relationships, strengthening the Volvo brand and presenting our company and our products to a global audience,” said Kina Wileke, Executive Vice President, Volvo Group Communication.

 

Volvo Cars and the Volvo Group have actively developed the race, leading to record levels of race village visitors and online and television coverage, benefitting the companies and partners.

 

The current edition of the race will continue as planned. Transfer of ownership and responsibility will take place thereafter. The next edition of the race is planned for 2021-2022.

 

Volvo Cars and the Volvo Group share a name but are not connected. Volvo Cars is owned by Zhejiang Geely Holding and makes passenger cars, while the Volvo Group is a listed company in Sweden and makes trucks, heavy machinery and other engineering products.

 

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