Personal, sustainable and safe
Volvo Car Group
Our Company at a Glance
We have created world-changing innovations since the first Volvo rolled off the production line in 1927. The modern seatbelt. The side impact protection system. The pedestrian detection system. Today, Volvo Cars is one of the most well-known and respected premium car brands, preparing for a new future that will be all-electric, autonomous and connected.
Our company is a truly global organisation: our roots are decidedly Scandinavian, but we have manufacturing, research and design operations in Europe, Asia and the Americas.
Volvo Cars in figures
Cars sold in 2020
Average number of employees
2020 operating profit (bnSEK)
Our Global presence
Aiming for zero
SHAPING TOMORROWS MOBILITY
Volvo Car Group in short
Volvo Car Group (Volvo Cars) is owned by Zhejiang Geely Holding (Geely Holding) of China. Our group structure comprises Volvo Cars, software company Zenseact, and our related direct consumer businesses: car subscription service Care by Volvo and mobility company M. Volvo Car Group also includes the sizeable stakes in our strategic affiliates: electric performance brand Polestar (50% owned by Volvo Cars) and new Chinese car brand LYNK & CO (30%).
Learn more about the brands:
Volvo Cars websites
Discover Volvo Cars
Lynk & Co
Learn more about M
Our mid-decade business ambitions
We’re ambitious and we continually challenge ourselves. The global automotive industry is changing, and we want to lead that change by being the fastest growing premium electric brand and the fastest transformer. We want to lead in safety, core computing, electrification, autonomous drive technology and direct customer relations. This way we will provide our customers with the freedom to move in a personal, sustainable and safe way.
By the middle of this decade we aim to sell 1.2 million cars globally, with at least half being fully electric cars. Of those annual sales half should also come via online channels, including volvocars.com. This way we can establish millions of direct customer relationships, together with our strong retail partners. By 2030 we aim to sell only fully electric models.
We will continue to focus on developing the next level of safety and autonomous drive standards. Our future models will benefit from core computing power and over-the-air upgrades of software, 50 per cent of which should be developed in-house by mid-decade. In addition to in-house development of technology and software, we will continue to build existing and new strategic partnerships with global technology leaders.
We also expect to improve our performance thanks to synergies from collaboration with our sister companies within Geely Holding. By jointly developing new technologies, we can deploy them faster and bring about quicker development cycles. Working together with our sister brands is also expected to generate lower procurement costs, shared development costs and other economies of scale.
All these ambitions reinforce our commitment to reduce average CO2 emissions per car by 40 per cent between 2018 and 2025, a first step towards our ambition of becoming a fully climate neutral company by 2040. We also aim to save 1 billion SEK annually by mid-decade through using circular-economy business principles, as well as cutting carbon emissions by 2.5 million tonnes.
Financially, we target an annual operating margin of 8-10 per cent by mid-decade, driven by increased sales and revenues across all three global sales regions, more effective sales and distribution channels, synergies with our affiliates and a broader range of fully electric cars. We expect to further boost profitability by achieving gross margin parity between our electrified and combustion engine-powered cars by mid-decade.
For a safer future
Build your career with Volvo Cars
Volvo Cars’ proud history of automotive innovations is the result of a collaborative, diverse and inclusive working environment. What we all have in common at Volvo Cars is our passion for protecting lives and our endless curiosity.
From past to future: 90 years of refinement
In every generation since the late 1920s, Volvo has been a pioneer. Our company was born because we believed that nobody was making cars strong enough or safe enough for Swedish roads. Discover how our heritage – events, casual encounters, strokes of genius and ground-breaking innovations – shapes our unique approach to mobility.