Volvo invests in Designwerk to enhance electromobility

Monday, 26. April 2021 10:20

Volvo Group has signed definitive agreements to acquire 60% of Swiss engineering company Designwerk Technologies AG in order to improve the electromobility capabilities of its products, the company officially announced on Monday.

Lars Stenqvist, Volvo's Chief Technology Officer, praised Designwerk's output regarding its development, prototyping, and production of low-volume niche electromobility products, calling it "a great complement" to Volvo. "This investment will support the Volvo Group transition towards climate-neutral transport solutions across segments," he added.

In early March, Volvo Group's former subsidiary, Volvo Cars, announced its plans to become a fully electric car company by 2030.

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Breaking the News / IV