The Volvo Group has a long history of developing pioneering products and services for the transport and the construction industries. Its research has resulted in cutting-edge technologies in the areas of safety, energy efficiency and emission reductions.
Approximately 60 percent of the people working in research and development (R&D) are located in Sweden, with the rest in Europe, the US, Asia and South America.
In 2012 investments in R&D amounted to SEK 14.8 billion, compared with SEK 13.3 billion in 2011, which corresponds to 5.0 percent of net sales compared with 4.4 percent in 2011. A large part of the investments were related to reducing exhaust emissions, lowering fuel consumption and developing hybrid technologies.
In 2012 government grants amounting to SEK 675 M (783) were received, of which SEK 525 M (775) was reported in the income statement. Tax credits are included at SEK 348 M (545), related to product development in France and India.
Other grants were mainly from the European Commission and the Swedish Government.
Three areas of focus
- Energy-efficient drivelines
- Hybrid and electric drivelines
- Renewable fuels