Volvo Car Group, including its strategic affiliates Polestar and Lynk & Co. International, are establishing a strategic partnership with Waymo, a world leader in fully self-driving technology development.
Waymo is the exclusive L4 partner for Volvo Car Group. The companies will first work together with the intention to integrate Waymo’s fully self-driving technology – the Waymo Driver – into an all-new mobility-focused electric vehicle platform for ride-hailing services.
“Fully autonomous vehicles have the potential to improve road safety to previously unseen levels and to revolutionize the way people live, work and travel,” said Henrik Green, Chief Technology Officer at Volvo Car Group. “Our global partnership with Waymo opens up new and exciting business opportunities for Volvo Cars, Polestar and Lynk & Co.”
“This key partnership with Volvo Car Group helps pave the path to the deployment of the Waymo Driver abroad in years to come, and represents an important milestone in the highly competitive autonomous vehicle industry,” said Waymo Chief Automotive Officer, Adam Frost. “Volvo Car Group shares our vision of creating an autonomous future where roads are safer, and transportation is more accessible and greener. We’re thrilled to welcome Volvo Car Group as our latest automotive partner.”
Note to editors:
L4 refers to level 4 autonomous-drive technology as defined by SAE International
Volvo Car Group in 2019
For the 2019 financial year, Volvo Car Group recorded an operating profit of 14.3 BSEK (14.2 BSEK in 2018). Revenue over the period amounted to 274.1 BSEK (252.7 BSEK). For the full year 2019, global sales reached a record 705,452 (642,253) cars, an increase of 9.8 per cent versus 2018. The results underline the comprehensive transformation of Volvo Cars’ finances and operations in recent years, positioning the company for its next growth phase.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected premium car brands in the world, with sales of 705,452 cars in 2019 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.
In 2019, Volvo Cars employed on average approximately 41,500 (41,500) full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China), and body components in Olofström (Sweden).
Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected in a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.