· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on ESG News or enjoy below:
🗞️ Driving the news: Volvo Group’s Chief Sustainability Officer, Karin Svensson, is leading Volvo’s push toward a fully electric, fossil fuel-free vehicle lineup by 2040
• Her expertise in strategy, R&D, and policy is critical to navigating complex customer and competitor partnerships essential for Volvo's electric vehicle (EV) goals
🔭 The context: Volvo, already a market leader with 3,500 electric trucks sold to major companies like Amazon and PepsiCo, sees expanding customer relationships and joint ventures as key to advancing EV adoption
• Collaborations, including partnerships with competitors like Daimler and Traton Group, aim to develop crucial EV infrastructure and emission-reducing materials
🌍 Why it matters for the planet: By pushing for near-zero emissions steel and extensive charging infrastructure, Volvo aims to reduce both production and operational emissions of its electric trucks, setting a new industry standard in sustainable heavy-duty transport
⏭️ What's next: Volvo plans to introduce an EV model in 2025 with a 375-mile range, better supporting long-haul routes
• Svensson also emphasizes the need for regulatory collaboration to ensure the smooth rollout of EV infrastructure across regions
💬 One quote: “We have very good top management commitment on our sustainability targets… our ambition to be net zero by 2040 stands firm,” - Karin Svensson, CSO of Volvo Group
📈 One stat: Volvo delivered 2,774 electric trucks in the first nine months of 2024, marking a 24% increase from last year
Click for more news covering the latest on corporate sustainability and sustainable mobility
