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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  AB Volvo    VOLV B   SE0000115446

AB VOLVO

(VOLV B)
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Volvo : Trucks Gets EPA Award to Deploy Zero-Emission Trucks

10/19/2020 | 11:54am EST

By Stephen Nakrosis

Volvo Trucks North America said it received a $21.7 million grant from the U.S. Environmental Protection Agency and other parties to deploy electric trucks in Southern California.

The company said the grant from the EPA and the South Coast Air Quality Management District will see Volvo deliver VNR Electric trucks to fleet operators in Southern California, beginning next year. Volvo Trucks said it will have an official commercial launch of its VNR Electric truck model later this year.

Combined with 25 other deployments through its Low Impact Green Heavy Transport Solutions, or Lights, program, Volvo Trucks has committed to deliver almost 100 VNR Electric trucks to the region, the company said.

The company also said deployment data will allow it to refine calculations on the total cost of ownership and "will allow Volvo Trucks to fine-tune the production at its New River Valley plant in Virginia, enabling seamless integration of the of the VNR Electric truck model into its manufacturing process for optimized, quality production."

Peter Voorhoeve, president of Volvo Trucks North America, said, "This grant provides Volvo Trucks with an excellent opportunity to further expedite the success of the ecosystem designed through the Volvo Lights project to support the wide-scale deployment of battery-electric heavy-duty trucks."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

Corrections and Amplifications

This article was corrected at 12:41 p.m. ET because it misstated that Volvo Trucks North America said the grant from the EPA and the South Coast Air Quality Management District will see Volvo deliver VNR Electric trucks to fleet operators in Southern California, beginning in the third quarter of next year. It will deliver trucks beginning next year.

(END) Dow Jones Newswires

10-19-20 1153ET

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Financials
Sales 2020 337 B 39 963 M 39 963 M
Net income 2020 16 025 M 1 901 M 1 901 M
Net cash 2020 50 199 M 5 954 M 5 954 M
P/E ratio 2020 24,6x
Yield 2020 2,53%
Capitalization 396 B 46 945 M 46 998 M
EV / Sales 2020 1,03x
EV / Sales 2021 0,95x
Nbr of Employees 88 889
Free-Float 87,1%
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Technical analysis trends AB VOLVO
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 206,52 SEK
Last Close Price 194,90 SEK
Spread / Highest target 28,3%
Spread / Average Target 5,96%
Spread / Lowest Target -40,5%
EPS Revisions
Managers
NameTitle
Martin Lundstedt President, Chief Executive Officer & Director
Carl-Henric Svanberg Chairman
Jan Olof Ytterberg Chief Financial Officer & EVP-Group Finance
Lars Stenqvist CTO & Executive VP-Group Trucks Technology
Hanne Jimenez de Mora Independent Director
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