Volvo Cars is opening a new Tech Hub in Singapore, a vibrant global hotspot for advanced technology and manufacturing excellence.
The new Tech Hub will be a key centre for data and analytics, software and advanced manufacturing development in line with our ambition to be a leader in new technology and a fully electric car maker by 2030.
The Singapore facility will initially focus on building up capabilities in technology and software development, data and analytics as well as advanced manufacturing – a core strategic area for Volvo Cars.
Manufacturing is an increasingly technology-intense area that offers plenty of new opportunities within AI, robotics, automation, machine learning, nanotechnology and a range of other new and emerging technologies.
“This new presence in Singapore will support our in-house technology and software development capabilities,” says Javier Varela, Volvo Cars’ Chief Operating Officer and Deputy CEO. “It will serve as a global innovation centre to further accelerate our momentum and increase our capabilities in advanced manufacturing and data and analytics.”
The announcement of our Singapore Tech Hub follows the recent addition of a Tech Hub in Krakow, Poland, earlier this year. Both hubs aim to further optimise our global site strategy to gain ground in key technology areas and attract the best tech talent around the world. These Tech Hubs work closely with our existing network of Tech Hubs and core engineering centres globally.
Singapore has in recent years become a leading global technology competence and innovation centre. With leading universities and wider education ecosystems, it is now the location of choice for many technology companies, investments and talent worldwide.
Volvo Cars is establishing the new hub in Singapore with support from the Singapore Economic Development Board (EDB), giving Volvo Cars further capability to leverage Singapore's local network and talent for its development of the next generation of technologies and cars.
Cindy Koh, Executive Vice President, EDB, said: “We welcome Volvo Cars’ decision to set up its Tech Hub in Singapore. This is testament to Singapore’s attractiveness as an innovation hub for global mobility companies to develop solutions for the regional and global market. It will create exciting job opportunities for Singaporeans as well as partnership opportunities for our public research performers and local companies in developing new technologies and next-generation vehicles.”
The new Tech Hub will open in early September and be led by Yvonne Tan, who joined the company on 1 September. Yvonne is a senior and visionary leader with a proven track record of enabling business through engineering development and successful delivery execution. Yvonne is joining Volvo Cars from Venture International Pte. Ltd, a leading global provider of technology services. There, she has led the advanced life science instrumentation and systems delivery in the role as R&D director. Additionally, she brings eight years of experience from leading research design development as Senior Engineering Manager at Dyson Operations Pte. Ltd.
Yvonne has an Engineering doctorate from the Singapore University of Technology and Design, and she holds a Master of Science in Business IT attained at the University of Wales.
We currently operate Volvo Cars Tech Hubs in Stockholm and Lund in Sweden, in Krakow in Poland as well as in Bangalore in India. We also have large engineering centres in Shanghai, China, and Gothenburg, Sweden. While each of these locations has its own focus area, together they make up a crucial network of innovation centres strategically spread around the globe.
After recently establishing our regional headquarters for the APeC region in Singapore, the opening of the Tech Hub further amplifies our presence in the country.
Volvo Cars in 2022
For the full year 2022, Volvo Car Group recorded an operating profit of SEK 22.3 billion. Revenue in 2022 amounted to SEK 330.1 billion, while global sales reached 615,121 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 2022, Volvo Cars employed approximately 43,200 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, 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 further information, please contact:
Volvo Cars Media Relations
+46 31-59 65 25
Volvo Cars Investor Relations
+46 31-793 94 00