Volvo announces partnership with ABB Volvo Buses (VOLVY) and ABB (ABB) have signed a partnership agreement regarding automatic e-bus chargers for electric-hybrid and full-electric Volvo buses. The cooperation enables the companies to deliver complete electrified bus solutions to cities. Under the global partnership agreement, Volvo Buses will supply electric-hybrid buses and full-electric buses. ABB will supply standard-based fast-charging solutions for the electric vehicles. The first joint project will be the implementation of Volvo Electric Hybrids and automatic e-bus chargers in the Luxembourg public transport system. Potentially 12 Volvo Electric Hybrid buses operated by Sales-Lentz will be running on existing public bus lines in Luxembourg as of 2015.
Volvo reports Q1 revenue SEK 74.8B vs. SEK 65.6B last year Reports Q1 net income SEK 7.07B. Operating income excluding restructuring charges and the capital gain from the sale of shares amounted to SEK 4.6B, corresponding to an operating margin of 6.1%. Truck order intake increased by 3% while order intake of construction equipment decreased by 24%.