Emobility: Volvo Group Acquires 60 Per cent Stake in Designwerk Technologies

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The Volvo Group, in April 2020, had noted that large national and international transport buyers are showing strong interest in electric vehicles

Volvo Group has signed definitive agreements to acquire 60 per cent of Designwerk Technologies AG, an engineering company in Switzerland, that develops and sells electromobility products and engineering services within electromobility eco-systems. The Volvo Group noted that by investing in Designwerk Technologies, it will complement its current capabilities when it comes to niche products and solutions.

“Designwerk Technologies have strong competencies within electromobility, focused on developing, prototyping and producing low volume niche products in the entire industrial electromobility spectrum, which makes it a great complement to the Volvo Group’s capabilities. This investment will support the Volvo Group transition towards climate neutral transport solutions across segments,” says Lars Stenqvist, Volvo Group Chief Technology Officer.

Designwerk Technologies offer customized electric trucks under the brand Futuricum, mobile rapid chargers and high voltage battery systems. As an innovative company Designwerk Technologies is working in fast feedback loops in development with customers to constantly improve their offering.

The Volvo Group, in April 2020, had noted that large national and international transport buyers are showing strong interest in electric vehicles. The move was being driven by their own ambitious climate goals, as well as consumers demand for decarbonisation and cleaner transports.

“More and more transport companies are realizing they need to start their electrification journey right now, both with the environment in mind and for competitive reasons to satisfy customer requirements for sustainable shipping. With our wide and deep offering, it is totally feasible for far more transport companies to go electric,” Roger Alm, President of Volvo Trucks, had said back then.

Designwerk Technologies will continue to operate as a standalone company. Completion of the transaction is expected to occur in the coming weeks. The transaction has no significant impact on the Volvo Group’s earnings or financial position.

“We look forward to continuing to support Volvo Group’s electromobility transformation, with additional agility and performance. By adding the scale and competencies of Volvo to our niche production we will both be able to speed up the necessary implementation of electric vehicles and supporting infrastructure, and increase the share of zero-emission journeys on the roads,” says Adrian Melliger, CEO of Designwerk Technologies.

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