Volvo
The global automotive industry is changing, and Volvo Car Group wants to lead that change – in safety, connectivity, electrification and autonomous drive technology. Rather than just building and selling premium cars, we will provide our customers with the freedom to move in a personal, sustainable and safe way.
By the middle of this decade Volvo Cars aims for half of its global sales to be fully electric cars and to generate half of its revenue from its direct consumer business. We aim to reduce our CO2 emissions per car by 40 percent between 2018 and 2025, a first tangible step towards our long-term goal of becoming climate neutral by 2040. We realise that electrification alone is not enough, and so our climate ambitions go beyond radically reducing tailpipe emissions through all-out electrification. We will also tackle carbon emissions in our manufacturing network, our wider operations, our supply chain and through our approach to recycling and reuse of materials.
Volvo Car Group (Volvo Cars) sold 698 000 cars in 2020, had an operating profit of 20.3 bn SEK and employ 40 000 employees worldwide. Volvo Cars is owned by Zhejiang Geely Holding (Geely Holding) of China. Our group structure comprises Volvo Cars, software company Zenseact, car subscription service Care by Volvo and mobility company M. Volvo Car Group also includes the sizeable stakes in our strategic affiliates: electric performance brand Polestar (50% owned by Volvo Cars) and new Chinese car brand LYNK & CO (30%).