Volvo Group Archives - Page 10 of 10 - Maritime Shipping News

Career Tracks: Former Mack president joins startup TrovaCV

12 October 2020

Denny Slagle, who retired as executive vice president of Volvo Group and president of Mack Trucks in 2018, has joined electric vehicle startup Trova Commercial Vehicles as senior adviser.

TrovaCV was launched this summer to provide commercial vehicle manufacturers with customized engineering, design and manufacturing expertise while at the same time developing its own electric vehicle from the ground up.

TrovaCV founder and CEO Patrick Collignon,...

https://s29755.pcdn.co/news/career-tracks-former-mack-president-joins-startup-trovacv

Mack starts early builds of medium-duty trucks

28 July 2020

Mack Trucks is building early units of its new medium-duty MD Series trucks in a former comic book publishing plant near Roanoke, Virginia.

It will begin full production at the newly formed Roanoke Valley Operations begins Sept. 1. That’s because the coronavirus pandemic delayed the original start of production in July.

Mack, a unit of Sweden’s Volvo Group, invested $13 million to convert the plant to make its first medium-duty truck in nearly two decades. The MD Series takes grille and hood...

https://s29755.pcdn.co/news/mack-starts-early-builds-of-medium-duty-trucks

Mack Trucks cutting 450 salaried jobs

20 July 2020

Mack Trucks is laying off 450 salaried workers at its North Carolina headquarters as part of global downsizing by Swedish parent Volvo Group (OTC: VLVLY). But it is holding the line for now against trimming more production jobs in Pennsylvania.

Even before the COVID-19 pandemic erased seven weeks of production in the second quarter, Mack expected a 30% decline in business following strong results in 2018 and 2019.

The projected decline is now “significantly sharper,” Mack spokesman Christopher...

https://s29755.pcdn.co/news/mack-trucks-cutting-450-salaried-jobs

Volvo reports 38% drop in Q2 sales

17 July 2020

Volvo Group (OTC: VLVLY) reported a 38% decrease in second-quarter sales as the COVID-19 pandemic racked its truck, bus and construction equipment units.

The Swedish parent company of Volvo Trucks North America and Mack Trucks said the temporary layoffs of 4,100 white-collar workers during the quarter are now permanent.

Net sales of SEK 73.2 billion ($8.1 billion) compared to SEK 120.7 billion ($13.3 billion) in the same period a year ago. Adjusted operating income was SEK 3,272 million ($361.6...

https://s29755.pcdn.co/news/volvo-reports-38-drop-in-q2-sales

Volvo Group cutting 4,100 white-collar positions in second half

16 June 2020

Sweden’s Volvo Group (OTC: VLVLY) is cutting 4,100 white-collar jobs globally in the second half of the year, responding to ongoing impacts of the COVID-19 pandemic.

“The Corona epidemic and the global measures taken to fight it has led to a market situation impacting our industry severely. The effects are expected to be lower demand going forward and we need to continue to adjust our organization accordingly,” Martin Lundstedt, president and CEO of the Volvo Group, said on Tuesday, June 16.

Volv...

https://www.freightwaves.com/news/volvo-group-cutting-4100-white-collar-positions-in-second-half

BREAKING NEWS: Volvo Group cutting 4,100 white-collar jobs

16 June 2020

Sweden’s Volvo Group is cutting 4,100 white-collar jobs globally in the second half in response to ongoing impacts of the COVID-19 pandemic. About 15% of the cuts will be contractors.

https://www.freightwaves.com/news/breaking-news-volvo-group-cutting-4100-white-collar-jobs

Musk – time for Tesla Semi to get on the road

10 June 2020

The oft-delayed Tesla (NASDAQ: TSLA) battery-powered semi-truck is in the news again following a leaked internal memo from CEO Elon Musk saying the company needs to go “all out” to get the truck on the road.

The memo, first reported Wednesday by Reuters, doesn’t give a production date. The current expectation is 2021 after launch delays in 2019 and this year. Limited production is expected this year, Musk said on Tesla’s first-quarter earnings call.

“It’s time to go all out and bring the Tesla...

https://s29755.pcdn.co/news/musk-time-for-tesla-semi-to-get-on-the-road

Daimler Trucks sets up fuel cell subsidiary

8 June 2020

Daimler Truck AG is assembling its fuel cell expertise in a new subsidiary as a forerunner to a 50-50 joint venture with rival Volvo AB that will make fuel cell-powered backup systems for data centers and eventually hydrogen-fueled heavy-duty trucks.

“We will now bring together the great expertise and enormous wealth of experience from several decades of development work on fuel cells at Daimler – and combine it with the right know-how in connection with trucks,” Daimler Truck AG Chairman Martin...

https://s29755.pcdn.co/news/daimler-trucks-sets-up-fuel-cell-subsidiary

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