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Volvo sets up new business unit for autonomous trucks

Volvo Autonomous Solutions will constitute a new business area as of January 1, 2020, and its financial results will be reported as part of the truck segment

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Volvo, Volvo Autonomous Solutions, Luxury vehicle manufacturer, Vera, Volvo Group, Martin Lundstedt, Autonomous trucks

Luxury vehicle manufacturer Volvo Group announced that the company is in the process of establishing a new business area for autonomous trucks to accelerate the development, commercialisation and sales of autonomous transport solutions.

This will enable the Volvo Group to meet a growing demand and to offer the best possible solutions to customers in such segments as mining, ports and transport between logistics centres, as a complement to today’s products and services, the company said in a release.

As per the automaker, Volvo Autonomous Solutions will constitute a new business area as of January 1, 2020 and its financial results will be reported as part of the truck segment.

It further informed that the recruitment process for the position as Head of Volvo Autonomous Solutions has commenced.“We have experienced a significant increase in inquiries from customers. With the Volvo Group’s wide range of offerings and broad experience of different applications, we have a unique opportunity to offer solutions that meet their specific needs. It is a logical next step for us to gather expertise and resources in a new business area with profit and loss responsibility to take autonomous transport solutions to the next level,” says Martin Lundstedt, president and CEO.

The Volvo Group has already demonstrated a number of different autonomous transport solutions. In the electric site project, material handling in a quarry was automated and electrified. The result was a safer working environment and a reduction of operator costs by 40% and of carbon dioxide emissions by 98%.

Another pioneering initiative is the self-driving, connected and electric vehicle Vera. In its first assignment Vera will form part of an integrated solution to transport goods from a logistics centre to a port terminal in Gothenburg, Sweden.

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