Volvo Group eyes opportunities in green transport

With green growth gaining traction in China, Swedish manufacturing giant Volvo Group sees big opportunities from the country's efforts to embrace environmentally friendly transportation technologies and services.

Martin Lundstedt, president and CEO of Volvo Group, said Chinese companies are shifting their focus from pure upfront costs to a more sustainable life-cycle-cost perspective, which make them more willing to embrace highly efficient and environmentally reliable products, and this offers good opportunities for Volvo Group.

According to him, the company now has more than 850,000 connected trucks, construction equipment and buses globally, representing the world's largest number of connected commercial vehicles. In 2020, the number is expected to reach more than 1 million, driven by growth in countries including China, the world's largest market for heavy-duty trucks.