Press Releases

Volvo Cars set to deliver its all-electric future with transformative Middle East partnerships

Volvo Cars is renewing its commitment to the Middle East through several key developments that will see the brand expand its existing partner network, open a brand-new regional parts distribution centre, and bring a premium customer buying experience to the region with the opening of a flagship Volvo Studio in Dubai.

 

The expansion of Volvo Cars’ footprint within the Middle East coincides with the launch of the first-ever pure-electric model in the Gulf Corporation Countries (GCC) – the XC40 Recharge – and it will spearhead a purely electrified Recharge-only product range in selected markets. This is in-line with Volvo Cars’ strategic aim of becoming an all-electric premium car brand by 2030.

 

As part of its commercial strategy, Volvo Cars is investing heavily in its online sales channels, reducing complexity in its product offer and providing transparent pricing models. Combined with online sales, Volvo Cars will focus on a complete and seamless customer offering.

 

This strategic vision has been designed around three key pillars: electric, online and growth. The new developments and commitments within the Middle East are testament to these three core strategies, with selected markets already switching to Recharge-only product portfolios and facilitating growth in direct-to-consumer online sales.

 

In Dubai, Volvo Cars is transforming the car buying experience for customers with the opening of a flagship Volvo Studio retail space – the first of its kind within the region to be located within a shopping mall and the second site in the Middle East after Kuwait.

 

The Studio concept delivers on Volvo’s global ambitions to change how and where it meets its customers. This is to enable customers to interact with the brand on their own terms and in a way that is convenient for them – regardless if in-person or online.

 

Arek Nowinski, Head of EMEA at Volvo Cars, said: “Volvo Cars’ commercial transformation into an all-electric manufacturer by 2030 is already well under way. For our brand to achieve our growth ambitions, we require world-class, forward-thinking partners that can deliver a premium customer experience both online and in store. We are delighted to be working with new retail partners within Gulf Corporation Countries who are aligned with our vision of delivering a seamless online car buying experience in one of the fastest-transforming markets within the wider Europe, Middle East and Africa region.”

 

Furthering its commitment alongside the expansion of its partner network, Volvo Cars has also opened its first parts distribution centre in Dubai to serve the region. The new 2,100sqm facility has capacity to store up to 5,000 different part numbers. Having this facility will allow Volvo Cars to make daily deliveries of parts to enable the brand’s new and existing partners to carry out timely servicing and maintenance with greatly reduced lead times thanks to a new door-to-door service capability.

 

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Volvo Cars in 2020-2021

For the 12 months between July 2020 and June 2021, Volvo Car Group recorded an operating profit of 22.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 292.1 BSEK (274.1 BSEK), while global sales reached 773,000 cars.

 

About Volvo Car Group

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world, with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.

 

Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

 

As of December 2020, Volvo Cars employed approximately 40,000 full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US) and Shanghai (China).

 

For more information, please contact:

Ian Tonkin

External Communications – EMEA at Volvo Cars

+44 75103 99053

Ian.tonkin@volvocars.com

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