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.
We have research and development (R&D) facilities close to our main production sites, with approximately 60 percent of people working in R&D located in Sweden.
In 2013, investments in R&D amounted to SEK 15.1 billion, compared with SEK 14.6 billion in 2012, which corresponds to 5.5 percent of net sales (4.9 percent in 2012). A large part of the Group’s investments were related to reducing exhaust emissions, lowering fuel consumption and developing electromobility solutions.
Grants and tax credits
In 2013, government grants of SEK 400 M (SEK 492 M in 2012) were received, and SEK 467 M (SEK 342 M) was recognized in the income statement. The amount includes tax credits of SEK 245 M (SEK 165 M) related to product development, which were primarily received in France and in the United States. Other grants were mainly received from Swedish, Chinese and US governmental organizations and from the European Commission.