According to Digitimes, Volvo CEO Jim Rowan said recently,Has passed the worst period of chip supply shortage, “returned to full supply level”. In the first quarter of this year, Volvo also suffered from chip shortages. Among them, car sales in March fell 22% to 58,677 due to chip shortages.
According to the data, Volvo Car Group is owned by Geely Holding. The group structure includes Volvo Cars, software company Zenseact (85% owned by Volvo Cars) and mobility company M. In addition, Volvo Car Group holds sizable shares in strategic partners, such as a 49.5% stake in the high-performance electric vehicle brand Polestar and a 30% stake in the fast-rising Lynk & Co.
Volvo Cars and ECARX have formed the HaleyTek joint venture to develop an infotainment platform for the Volvo Group and other companies based on Android Automotive software. Volvo Cars and Geely Holding have formed a powertrain joint venture, Aurobay, which aims to create a new internal combustion engine powertrain for the Volvo Group and other companies to achieve synergies in performance development and low emissions.
In terms of electrification, Volvo officially opened a new electric vehicle battery assembly line at its manufacturing plant in Ghent, Belgium in 2020. In May, Volvo Trucks plans to open a new battery assembly plant in Belgium, which will start mass production in the third quarter of this year. When the plant is completed and put into production, it will supply the company’s heavy-duty electric trucks with special batteries.
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