Tag: Volvo

Europe’s Top 5 Medium & Heavy Truck Manufacturers Comparative SWOT & Strategy Report 2023: Industry’s Ongoing Transition Towards De-Carbonization Set to Define Sector

DUBLIN, May 12, 2023 /PRNewswire/ — The “Comparative SWOT & Strategy Focus – 2023-2027 – Europe’s Top 5 Medium & Heavy Truck Manufacturers – Daimler, Volvo, Traton, DAF, Iveco” report has been added to  ResearchAndMarkets.com’s offering. The European Medium & Heavy Truck market has been cruising steadily amid strong transport activity marked by high freight volumes… Continue reading Europe’s Top 5 Medium & Heavy Truck Manufacturers Comparative SWOT & Strategy Report 2023: Industry’s Ongoing Transition Towards De-Carbonization Set to Define Sector

Volvo Trucks discontinues the acquisition of heavy-duty truck manufacturing operation in China

Volvo Trucks and Jiangling Motors Co. will not pursue the previously announced transaction involving the acquisition of JMC Heavy Duty Vehicle Co. and its manufacturing site in Taiyuan, Shanxi province, China.  The two parties will not pursue the transaction due to that the conditions for closing the transaction were not met. Volvo Trucks will continue… Continue reading Volvo Trucks discontinues the acquisition of heavy-duty truck manufacturing operation in China

Volvo Trucks discontinues the acquisition of heavy-duty truck manufacturing operation in China

GOTHENBURG, Sweden, May 12, 2023 /PRNewswire/ — Volvo Trucks and Jiangling Motors Co., Ltd will not pursue the previously announced transaction involving the acquisition of JMC Heavy Duty Vehicle Co., Ltd, and its manufacturing site in Taiyuan, Shanxi province, China. The two parties will not pursue the transaction due to that the conditions for closing the… Continue reading Volvo Trucks discontinues the acquisition of heavy-duty truck manufacturing operation in China

This Week in Transportation News: 12 Stories You Need to See

A roundup of the week’s most newsworthy auto and transport industry press releases from PR Newswire, including rideshare annoyances and the auction of the “Bitcoin Car.” NEW YORK, May 12, 2023 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help… Continue reading This Week in Transportation News: 12 Stories You Need to See

The Polestar 3 and Volvo EX90 are both delayed until 2024

Volvo needs more time for software development and testing. Electric vehicle brand Polestar plans to reduce its headcount by 10 percent as part of an effort to cut costs. It will also institute a global hiring freeze and it has trimmed production guidance for 2023. Polestar now expects to produce between 60,000 and 70,000 vehicles… Continue reading The Polestar 3 and Volvo EX90 are both delayed until 2024

Polestar and Volvo are the latest automakers caught in software purgatory

Software, it turns out, is hard for automakers. And building a so-called software-defined car — the term du jour in automotive circles — is even harder. Software development problems have led to executive shakeups at VW Group, bricked vehicles, recalls and generally unpleasant vehicle experiences. Now, Polestar and Volvo Cars have gotten caught up in… Continue reading Polestar and Volvo are the latest automakers caught in software purgatory

Polestar to cut 10% of workforce as delays push upcoming SUV to 2024

Polestar 3 Courtesy: Polestar Swedish electric vehicle maker Polestar on Thursday trimmed its full-year production guidance, saying that its upcoming Polestar 3 SUV will be delayed until 2024 because of software issues. The company also said it will cut about 10% of its workforce to reduce costs. Shares fell sharply following the news and ended… Continue reading Polestar to cut 10% of workforce as delays push upcoming SUV to 2024