Volvo invests in Swiss electromobility specialist
Volvo Group has signed definitive agreements to acquire 60 percent of Designwerk Technologies AG, an engineering company in Switzerland, that develops and sells electromobility products and engineering services within electromobility eco-systems.
By investing in Designwerk Technologies, the Volvo Group says 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 in a press release. Designwerk Technologies offer customised electric trucks under the brand Futuricum, mobile rapid chargers and high voltage battery systems. “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,” adds Adrian Melliger, CEO of Designwerk Technologies. Designwerk Technologies will continue to operate as a standalone company and the completion of the transaction is expected to occur in the coming weeks.