GÖTEBORG, Sweden, June 18, 2019 /PRNewswire/ -- At the Capital Markets Day today, Martin Lundstedt, Volvo Group President and CEO, and Jensen Huang, NVIDIA founder and CEO, presented a partnership to jointly develop the decision-making system of autonomous commercial vehicles and machines. The Capital Markets Day focused on the Group's strategy and improved financial performance on the theme "Perform and Transform".
Utilizing NVIDIA's end-to-end artificial intelligence platform for training, simulation and in-vehicle computing, the resulting system is designed to safely handle fully autonomous driving on public roads and highways.
The Volvo Group has improved its financial performance in recent years. Martin Lundstedt pointed to a stronger service business as one contributor to the improvement. Driving the development of services is a key area for the Volvo Group, since it strengthens the relationship with customers and helps build a company that is more resilient to changes in market demand. Another cornerstone of the improvement is the well-invested industrial backbone with increased operational efficiency and flexibility.
Jan Ytterberg, Volvo Group CFO, covered the importance of securing the financial performance to be able to provide good returns for shareholders as well as invest in the transformative technologies shaping the future of transport. The commercial vehicle industry is in transition in a time with growing transport needs and increasing infrastructure investments. This provides great opportunities for the Volvo Group in developing more sustainable transport solutions.
Lars Stenqvist, Volvo Group Chief Technology Officer, laid out the Group's innovation road map within areas such as electrification, automation and connected solutions using a modular concept based on the Groups' CAST system (Common Architecture and Shared Technologies).
Melker Jernberg, President of Volvo Construction Equipment, gave an update on Volvo CE's strategy and the potential to grow further in the excavator market and within services.
Furthermore, Martin Lundstedt outlined how the Volvo Group is building new businesses through the new technologies exemplified by Volvo Buses' ElectriCity with Keolis, Volvo Trucks' automated solution for Brönnöy Kalk, the Vera autonomous transport system's first assignment with DFDS and Volvo Construction Equipment's Electric Site concept with Skanska.
A replay of the webcast and the presentation material will within short be available on the Investor Relations section of the Volvo Group's website www.volvogroup.com
For further information, please contact
Claes Eliasson, Volvo Group Media Relations, +46 31 323 72 29.
Christer Johansson, Head of Investor Relations,+46 739022522
For more information, please visit volvogroup.com/press
The Volvo Group drives prosperity through transport solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs 105,000 people and serves customers in more than 190 markets. In 2018, net sales amounted to about SEK 391 billion (EUR 38.1 billion). Volvo shares are listed on Nasdaq Stockholm.
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SOURCE AB Volvo