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Volvo’s Investment Will Be Directed Towards Research and Product Development in the Truck Segment, As the Brand Made Significant Progress Last Year
It was announced last Wednesday, on February 2nd, via the website Exame, that the truck company Volvo made a statement regarding its intention to invest 1.5 billion reais in Brazil over the next 3 years. This investment projection is a result of record truck sales in the country.
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According to information provided by the Swedish company Volvo, the investment amount will primarily be directed towards research and the creation of products and services related to truck sales.
With 21,800 trucks sold, the increase compared to 2020 was 45.7%. Of all the sales made by Volvo in Brazil, nearly 18,000 were heavy trucks, placing the Swedish manufacturer at the top of the sector. According to data provided by the automakers’ association Anfavea, Volvo is ahead of companies such as Mercedes-Benz, Scania, and Volkswagen Trucks and Buses, which are also making significant investments in Brazil.
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As stated by Wilson Lirmann, president of the Volvo group in Latin America, Brazil remained in second place among Volvo’s largest truck markets worldwide, even while facing supply chain constraints and limitations imposed during this pandemic period. Therefore, it is assumed that Volvo’s domestic truck market will remain stable or grow even more, which will compensate for future investment.
Responsible for Volvo’s Investments in Brazil
The main drivers of the national market regarding heavy trucks were the investments made by sectors such as agribusiness, mining, and the forestry industry. On the other hand, in light of the demand for online commerce services, retail was the primary driver of sales for lighter Volvo vehicles.
Moreover, Volvo’s progress coincided with the overall truck market growth, which increased by 43.5% last year compared to 2020.
Regarding the global supply crisis of electronic components and the obstacles in the supply of other items, such as tires, Lirmann states: “For 2022, we also see good prospects. But the challenges of the production chain, both in capacity and rising costs, will require attention throughout the year.”
Volvo Will Install 13 Fast Charging Points for Electric Cars on Brazilian Streets
Volvo announced in December that it will install around 13 fast electric chargers for electric cars on highways in Brazil. According to Volvo’s planning, the fast charging stations will initially be installed on specific routes connecting the city of São Paulo with other cities and capitals, such as Rio de Janeiro, Belo Horizonte, and Curitiba. Check out the full article he.
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