Volvo Group

For the last meeting of the trip, we had the pleasure to visit the Volvo Group, located in Gothenburg! The meeting was led by Martin Lundstedt who is the President and CEO of the entire company. It was quite remarkable seeing someone who has over 95,000 employees globally take time out of his day to meet with us! Typically, when thinking of Volvo, the car company comes to mind; however, today we got the chance to visit both companies as separate entities. The Volvo Group is a lot more diverse than we had initially realized, their name is not only in trucking but also boating and heavy-duty construction machinery, which is something we found quite interesting. They have their product line of machinery spread out over 190 countries worldwide and are the #3 when it comes to the construction heavy duty machinery line. However, like many other companies currently, they have their ambitions set for something much greater and are working on fully autonomous solutions. Along with being fully autonomous, Volvo has a long-term ambition of being: 100% safe, fossil free and more productive. One major factor that stuck out to me during Martin's presentation was that he brought up that Volvo is working alongside Daimler speed up the production of these full autonomous and electric big rigs. I found this quite interesting as Daimler is one of their main competitors within their space. Teaming up with your competitor is not something that you normally see but the reasoning behind it was to speed up the process and get this new wave of technology going much quicker and by teaming up with Daimler they will both be able to achieve this far quicker. Their focus is aimed towards a decarbonization of emissions between their line of equipment. They have set the trend when it comes to CO2 emissions with business seeking out their assistance and knowledge to implement such standards as well. Along with Volvo’s pledge to be sustainable, they use connective technology between their trucks to help monitor the amount of impact the vehicle is using. A huge commonality between Scandinavia and America is their desire to reach sustainability. While this has been an ongoing matter for a economically sustainable future, it seems that Sweden has been doing a relatively better job than America. Martin discussed the idea behind executives always “wanting” to drive sustainability but not practicing what they preach. They align themselves with the statement, “Shaping the world you want to live in,” which I find to be a powerful testimony. The world we live is affected heavily by those who live in it, so I find it to be most important to play your part in order to be the change.

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