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    VOLV B   SE0000115446

AB VOLVO

(VOLV B)
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Delayed Nasdaq Stockholm  -  11:29 2022-06-30 am EDT
158.38 SEK   -3.61%
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Volvo Trucks to Open New Battery Assembly Plant in Belgium

05/17/2022 | 02:00am EDT

By Dominic Chopping


STOCKHOLM--Volvo AB said Tuesday that its Volvo Trucks subsidiary is opening its first battery assembly plant.

The Ghent, Belgium, plant will assemble cells and modules from Samsung SDI Co. into ready-to-install battery packs for Volvo Trucks' full electric heavy-duty trucks, the Swedish truck maker said.

"By integrating the battery assembly process in our production flow, we can shorten lead times for our customers and secure high-performing batteries, while at the same time increase circularity," Roger Alm, president of Volvo Trucks, said.

With production of three heavy-duty full electric models starting this year in Europe, Volvo Trucks said it will offer a total of six electric truck models globally.

By 2030, at least 50% of all trucks Volvo sells globally will be electric and by 2040 it will be a carbon-neutral company, it added.


Write to Dominic Chopping at dominic.chopping@wsj.com


(END) Dow Jones Newswires

05-17-22 0400ET

Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO -3.61% 158.38 Delayed Quote.-21.62%
SAMSUNG ELECTRONICS CO., LTD. -1.72% 57000 End-of-day quote.-27.20%
SAMSUNG SDI CO., LTD. -6.67% 532000 End-of-day quote.-18.78%
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Financials
Sales 2022 421 B 41 125 M 41 125 M
Net income 2022 33 356 M 3 255 M 3 255 M
Net cash 2022 53 856 M 5 256 M 5 256 M
P/E ratio 2022 9,76x
Yield 2022 8,73%
Capitalization 325 B 31 699 M 31 699 M
EV / Sales 2022 0,64x
EV / Sales 2023 0,61x
Nbr of Employees 84 059
Free-Float 83,6%
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 158,38 SEK
Average target price 224,25 SEK
Spread / Average Target 41,6%
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Managers and Directors
Martin Lundstedt President, Chief Executive Officer & Director
Tina Hultkvist Chief Financial Officer
Carl-Henric Svanberg Chairman
Sofia Frńndberg Legal Counsel
Hanne Jimenez de Mora Independent Director
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