He replaces Martin Weissburg, who steps down from the group board to join the board of another Volvo subsidiary, Nova Bus.

Volvo hopes that advances in this new area of digital innovation will make financial and insurance products “more dynamic and easier to access”.

Renault Trucks has stated that CampX Lyon will cater exclusively to start-ups with new ideas for decarbonisation, urban logistics, and vehicle uptime.

The CV corporation saw net sales of SEK473.5bn in 2022 from SEK372.2bn in 2021. CEO and President, Martin Lundstedt, stated that Volvo ended 2022 in a good financial position with an adjusted operating margin of 10.7%.

Entrepreneurs and representatives of start-ups are given access to engineers and mentors from Volvo who help them to bring their product and service concepts to market.

Waabi has developed an autonomous driving program which it taught using its own simulation software, which provides a set of driving scenarios to actively teach and assess AI drivers.

Volvo Group, Daimler Truck, and Traton Group have announced that their heavy vehicle charging joint venture will operate under the name Milence BV, based in Amsterdam.

Under the Volvo and Eicher brands, VECV has introduced three new coaches / intercity buses in India, two of which replicate Euroepan design.

Called Fyrqom, the joint venture between Volvo, Qamcom and CEO Roman Iustin will focus on developing automated systems for tyre pressure monitoring in heavy-duty vehicles.

An undisclosed sum has been invested in Optibus, a software developer specialising in public transportation management tools for planning workable routes, timetables and rotas.

The joint venture between Traton, Daimler Truck and Volvo has received the relevant regulatory approvals and will begin operations this year, led by Anja van Niersen.

Volvo's electrification-focused business unit invested approximately SEK50m in exchange for a 10% stake in Connected Energy, a British firm providing services related to second-life battery storage and use.