AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, North America, South America, Asia, Africa, and Oceania. The company operates through Industrial Operations - Trucks, Industrial Operations - Construction Equipment, Industrial Operations - Buses, Industrial Operations - Volvo Penta, Industrial Operations - Group Functions & Other, and Financial Services segments. The company offers heavy-duty trucks for long-haulage and construction work, and light-duty trucks for distribution purposes under the Volvo, Renault Trucks, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and chassis under the Prevost and Volvo Bus brands. It also provides haulers, wheel loaders, excavators, road construction machines, and compact equipment under the Volvo, SDLG, and Rokbak brands. In addition, the company offers engines and power solutions for industrial off-highway applications and power generation, as well as for leisure boats, yachts, and commercial vessels under the Volvo Penta brand. Further, it provides customer support agreements, machine control systems, attachments, financing, and leasing; and insurance, rentals, spare parts, repairs, preventive maintenance, uptime and service agreements, and assistance services. It serves customers primarily in the transportation, infrastructure, construction, marine, industrial, and public transportation industries. The company offers its products and services through a network of dealers. AB Volvo (publ) was incorporated in 1915 and is headquartered in Gothenburg, Sweden.
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PG&E Expands Vehicle-to-Everything Program with New Partners and EV Models
Pacific Gas and Electric Company announced a significant expansion of its Vehicle-to-Everything program, adding Bidirectional Energy and PowerFlex as approved partners and making EVs from Kia, Volvo, Polestar, and Nissan newly eligible. The expansion also includes new General Motors models such as the Chevrolet Bolt, Cadillac Celestiq, and Cadillac Escalade IQL, building on existing options from Ford, Tesla, Chevrolet, GMC, and Cadillac. Customers can now enroll through June 30, 2027, with residential incentives of $2,500 upfront, or $3,000 for those in disadvantaged communities, plus a $1,500 Early Adopter Incentive for the first 250 enrollees. Newly eligible vehicle and charger combinations qualify for up to $13,000 in additional incentives through California Energy Commission grant funding. PG&E has also advanced V2X solutions for commercial and fleet customers, including work with school districts in Fremont, Oakland, and San Francisco to support bidirectionally capable electric school bus fleets.
California's EV rebate exempts Tesla and Lucid from price cap
California's new MyFirstEV instant rebate program exempts automakers headquartered in the state that build only zero-emission vehicles from its $50,000 MSRP cap, effectively allowing Tesla and Lucid to qualify for the $3,500 incentive on vehicles priced well above that limit while competitors must comply. The program, announced by Governor Gavin Newsom on August 7, offers $3,500 off a new zero-emission vehicle and $1,750 off a used one at the point of sale, funded by $135.5 million from California Climate Investments' cap-and-trade revenue matched by participating automakers for a total $271 million pot. CARB's own FAQ states the program was created because the expiration of the $7,500 federal EV tax credit in September 2025 caused new ZEV registrations in California to drop 40.2% year over year in the first quarter of 2026. The price-cap exemption applies to any manufacturer headquartered in California that builds only zero-emission vehicles, which currently includes Tesla and Lucid and will include Rivian once it joins, while Hyundai, Kia, and others must stay under the $50,000 threshold. The rollout is staggered because CARB signs individual grant agreements with each automaker, who must front the discount and build point-of-sale systems, with Tesla, Hyundai, and Lucid going live first and Nissan and Volvo yet to commit to a date.
Aurora launches second-generation driverless truck platform and reaffirms 200-truck target
Aurora Innovation announced its second quarter 2026 results and the launch of Aurora Driver 2, its second-generation hardware and software platform for driverless trucks. The new system is integrated with the International LT Series vehicle, designed for one million miles of operation, and expected to cost half as much as the previous generation. Aurora has signed new customer agreements with Value Truck and Charger Logistics, while Volvo Autonomous Solutions added DSV and AVI-SPL as customers for freight services using the Volvo VNL Autonomous powered by the Aurora Driver. The company ended the quarter with nearly 1.2 billion dollars in cash and short-term investments and reaffirmed its plan to have 200 driverless trucks in operation by year-end, with upfitter Roush expected to reach an annual run-rate of 1,000 trucks in October. Aurora also noted that California recently joined the majority of U.S. states in permitting driverless truck deployment, and the company has submitted its application to begin required drivered testing in the state.
Ford F-150 Base Price Nears $39,000 as US New-Car Sales Face Steep Decline
The Ford F-150 starts at $38,780 but reaches $45,000 with modest features, contributing to a broader affordability crisis in the US auto market. Bain and Company projects that annual US new-car sales could plummet from about 16 million today to just 2 million by 2040. The average new-vehicle price has surpassed $51,000, with Cox Automotive reporting an MSRP of $51,440, up 4% from last year. Volvo's chief commercial officer Erik Severinson stated that people being unable to buy new cars reflects something fundamentally wrong in the broader economy. The Wall Street Journal noted that about one million Americans will soon exit the car market, while the average vehicle on US roads is now 12 years old.
Polestar's US setback leaves owners asking: who will service my car?
Polestar has been denied authorization to sell new models in the U.S. under a federal rule restricting cars with Chinese-linked connected-vehicle technology, beginning with the 2027 model year. The decision shocked Polestar drivers and dealers, raising concerns about resale values and the future viability of the brand's service network. Polestar, majority-owned by China's Geely Holding, said it will continue to sell pre-2027 models and provide access to its service network, but dealers like Matthew Haiken in New Jersey worry about sustaining their business with only service and used-car sales. Some owners fear software updates may lag behind other markets, though Polestar says support will continue according to product plans. Analysts note that Volvo's existing U.S. network may blunt some negative effects, but owners like Bill Baird remain wary of long-term support if Polestar dealers go out of business.
CATL and Ellen MacArthur Foundation launch circular battery design guidelines and business coalition
CATL and the Ellen MacArthur Foundation, together with BMW, Renault, Volvo, Google, Xiaomi and other industry leaders, have launched two new initiatives through CATL's Global Energy Circularity Commitment: circular battery design guidelines and a business coalition to accelerate circular business models. The guidelines aim to embed circularity across the full battery lifecycle, providing a common methodology for design, procurement, and policy, with publication planned for 2027. The coalition will work to create the commercial, regulatory, and financing conditions needed to scale circular models internationally, building on CATL's existing battery-swapping operations across more than 1,650 stations in 127 Chinese cities. The announcement was made at the Climate Innovation Forum during London Climate Action Week 2026, where CATL also unveiled a separate battery-swapping joint venture with Octopus Energy targeting 300,000 electric trucks and 30 hubs across Europe by 2035. CATL, which achieved carbon neutrality across its core operations in 2025, processed 210,000 tonnes of end-of-life batteries last year through its Brunp Recycling unit, recovering 99.6% of nickel, cobalt, and manganese.
Polestar US sales blocked over Chinese connected car tech rules
Polestar, a portfolio company of Geely Automobile Holdings, faces a prohibition on new vehicle sales in the United States because of government restrictions on Chinese connected car technology. The decision highlights how technology rules are affecting cross-border auto investments and the wider electric vehicle supply chain. Volvo, another Geely-linked brand, has secured a waiver to continue US sales under the same regulatory framework. The restriction introduces an additional consideration for Geely as it allocates capital, manages partnerships, and plans overseas exposure.
Polestar banned from selling new cars in US from 2027 over China links
European electric carmaker Polestar will be forced to stop selling new cars in the United States from 2027 after the US Commerce Department refused to grant it permission under new import restrictions targeting vehicles with Chinese parts. The Swedish brand, majority-controlled by Chinese automotive giant Geely, is thought to be the first European carmaker to fall foul of the rules, which ban the use of any Chinese software or hardware that connects vehicles to the outside world, including Bluetooth, Wi-Fi chips, cellular modules and satellite communications. Polestar said it would continue to sell existing cars in the US for now and is not planning to appeal, with chief executive Michael Lohscheller stating the company would instead focus on Europe as its largest growth engine. The US accounted for about 6% of Polestar's first-quarter sales, compared with 78% from Europe, and its shares dropped nearly 7% on Thursday. The restrictions, introduced under Joe Biden and maintained by Donald Trump, have also raised fears among Western carmakers that more vehicles could be banned if they contain Chinese technology, even as companies like Ford scramble to secure approvals and Volvo, Polestar's sister brand also owned by Geely, won permission to continue North American sales in May.
Renault Takes Full Control of Flexis as Trafic EV Van Moves Ahead
Renault Group has acquired full ownership of Flexis after buying out the stakes of Volvo Group and CMA CGM, gaining complete control of the electric commercial vehicle venture. The company is advancing development of the software-defined Trafic Van E-Tech Electric, with production scheduled at Sandouville from late 2026 and Volvo Trucks handling marketing from 2027. Renault will continue working with Volvo Group to market the new electric Trafic range to professional customers. The move concentrates execution risk on Renault but could capture more value if the van gains traction with fleets facing higher fuel costs.
AB Volvo Outshines Ferrari as a Better Value Stock, Zacks Analysis Shows
AB Volvo presents a stronger value opportunity than Ferrari, according to a Zacks Investment Research analysis. AB Volvo holds a Zacks Rank of #2 (Buy) and a Value grade of A, while Ferrari has a Zacks Rank of #3 (Hold) and a Value grade of D. AB Volvo's forward P/E ratio stands at 14.24 compared to Ferrari's 31.43, and its PEG ratio is 0.73 versus Ferrari's 3.37. Additionally, AB Volvo's price-to-book ratio is 3.23, far below Ferrari's 17.47. The analysis suggests that AB Volvo's more impressive earnings estimate revision activity and superior valuation metrics make it the better choice for value investors.