Editing Volvo (section)

==History==
===Early years and international expansion===
[[File:Volvo ÖV4 1927.jpg|thumb|The first Volvo car, a [[Volvo ÖV 4]], left the assembly line on 14 April 1927.]]
The brand name ''Volvo'' was originally registered as a trademark in May 1911, with the intention to be used for a new series of [[SKF]] [[ball bearings]]. It means "I roll" in [[Latin]], conjugated from "volvere". The idea was short-lived, and SKF decided to simply use its initials as the trademark for all its bearing products.<ref name="B2">{{cite book |last=Pederson |first=Jay P. |chapter=AB Volvo |title=International Directory of Company Histories |volume=67 |date=June 2005 |publisher=St. James Press |pages=[https://archive.org/details/internationaldir0000unse_r9u7/page/378 378–383] |isbn=978-1-5586-2512-9 |chapter-url=https://archive.org/details/internationaldir0000unse_r9u7/page/378 }}</ref>

In 1924, [[Assar Gabrielsson]], an SKF sales manager, and [[Gustav Larson]], a [[KTH Royal Institute of Technology|KTH]] educated engineer, decided to start construction of a Swedish car. They intended to build cars that could withstand the rigours of the country's rough roads and cold temperatures.<ref name="volvo.com">{{cite web |url=http://www.volvogroup.com/GROUP/GLOBAL/EN-GB/VOLVO%20GROUP/HISTORY/OURHISTORY/PAGES/HISTORY_TIMELINE.ASPX |title=History time-line : Volvo Group – Global |publisher=Volvo |access-date=12 June 2009 |archive-url=https://web.archive.org/web/20110620234834/http://www.volvogroup.com/GROUP/GLOBAL/EN-GB/VOLVO%20GROUP/HISTORY/OURHISTORY/PAGES/HISTORY_TIMELINE.ASPX |archive-date=20 June 2011 |url-status=dead }}</ref>

AB Volvo began activities on 10 August 1926. After one year of preparations involving the production of ten prototypes, the firm was ready to commence the car-manufacturing business within the SKF group. The Volvo Group itself considers it started in 1927, when the first car, a [[Volvo ÖV 4]], rolled off the production line at the factory in [[Hisingen]], Gothenburg.<ref>{{cite web |author=Volvo Group Global |url=http://www.volvo.com/group/global/en-gb/Volvo+Group/history/history.htm |title=Volvo 80 years |publisher=Volvo |access-date=6 November 2010 |archive-url=https://web.archive.org/web/20091022223128/http://www.volvo.com/group/global/en-gb/volvo+group/history/history.htm |archive-date=22 October 2009 |url-status=live  }}</ref> Only 280 cars were built that year.<ref name=georgano>[[Georgano, G. N.]] ''Cars: Early and Vintage, 1886–1930''. (London: Grange-Universal, 1985) {{ISBN|9781590844915}}</ref> The first truck, the "Series 1", debuted in January 1928, as an immediate success and attracted attention outside the country.<ref name="B2"/> In 1930, Volvo sold 639 cars,<ref name=georgano/> and the export of trucks to Europe started soon after; the cars did not become well known outside Sweden until after [[World War II]].<ref name=georgano/> AB Volvo was introduced at the [[Stockholm Stock Exchange]] in 1935 and SKF then decided to sell its shares in the company. By 1942, Volvo acquired the Swedish precision engineering company [[Volvo Aero|Svenska Flygmotor]] (later renamed as Volvo Aero).<ref name="B2"/>

Pentaverken, which had manufactured engines for Volvo, was acquired in 1935, providing a secure supply of engines and entry into the marine engine market.<ref name="PentaHistory">{{cite web | url = http://www.volvopenta.com/VOLVOPENTA/GLOBAL/EN-GB/OUR_COMPANY/HISTORY/Pages/1930.aspx | title = 1930 – History: Volvo Penta | access-date = 28 November 2013 | publisher = Volvo Penta | archive-url = https://web.archive.org/web/20131203021457/http://www.volvopenta.com/VOLVOPENTA/GLOBAL/EN-GB/OUR_COMPANY/HISTORY/Pages/1930.aspx | archive-date = 3 December 2013 | url-status = dead | df = dmy-all }}</ref>

The first bus, named B1, was launched in 1934, and aircraft engines were added to the growing range of products at the beginning of the 1940s. Volvo was also responsible for producing the [[Stridsvagn m/42]]. In 1963, Volvo opened the [[Volvo Halifax Assembly]] plant, the first assembly plant in the company's history outside of Sweden in [[City of Halifax|Halifax, Nova Scotia, Canada]].

In 1950, Volvo acquired the Swedish [[Construction equipment|construction]] and [[agricultural equipment]] manufacturer [[Bolinder-Munktell]].<ref name=WG>{{cite book |editor1-last=Pyka |editor1-first=Andreas |editor2-last=Burghof |editor2-first=Hans-Peter |title=Innovation and Finance |chapter=Automotive dinamics in regional economies |last=Eliasson |first=G |page=130 |year=2013 |publisher=Routledge |isbn=978-1-135-08491-2 |chapter-url=https://books.google.com/books?id=3WodAAAAQBAJ&q=Bolinder-Munktell+Volvo+CE&pg=PA130 |access-date=21 October 2020 |archive-date=6 April 2023 |archive-url=https://web.archive.org/web/20230406043916/https://books.google.com/books?id=3WodAAAAQBAJ&q=Bolinder-Munktell+Volvo+CE&pg=PA130 |url-status=live }}</ref> Bolinder-Munktell was renamed as Volvo BM in 1973.<ref>{{cite web |url=https://www.agrarszektor.hu/gepek/heccbol_tamasztottak_fel_a_volvo_hires_traktormarkajat.6744.html |title=Heccből támasztották fel a Volvo híres traktormárkáját |publisher=Agrarszektor.hu |language=hu |date=6 January 2017 |access-date=14 June 2016 |archive-url=https://web.archive.org/web/20170107161018/http://www.agrarszektor.hu/gepek/heccbol_tamasztottak_fel_a_volvo_hires_traktormarkajat.6744.html |archive-date=7 January 2017 |url-status=live  }}</ref> In 1979, Volvo BM's agricultural equipment business was sold to [[Valtra|Valmet]].<ref>{{cite web |url=https://www.mechaman.nl/landbouwmechanisatie/2016/10/24/zo-zou-de-volvo-bm-er-nu-uit-kunnen-zien/ |title=Zo zou de Volvo BM er nu uit kunnen zien |publisher=Mechaman.nl |language=nl |date=24 October 2016 |access-date=15 June 2016 |archive-url=https://web.archive.org/web/20171020163021/https://www.mechaman.nl/landbouwmechanisatie/2016/10/24/zo-zou-de-volvo-bm-er-nu-uit-kunnen-zien/ |archive-date=20 October 2017 |url-status=live  }}</ref> Later, through restructuring and acquisitions, the remaining construction equipment business became [[Volvo Construction Equipment]].<ref name=WG/>

In the 1970s, Volvo started to move away from car manufacturing to concentrate more on heavy commercial vehicles. The car division focused on models aimed at upper middle-class customers to improve its profitability.<ref name=diver/>

===Partnerships and merging attempts===
In 1977, Volvo tried to combine operations with rival Swedish automotive group [[Saab-Scania]], but the latter company rejected it.<ref name="B2"/>

Between 1978<ref name="B2"/> and 1981, Volvo acquired [[Beijerinvest]], a trading company involved in the oil, food, and finance businesses. In 1981, those sectors represented about three quarters of Volvo's revenue, while the automotive sector amounted for most of the rest. In 1982, the company completed the acquisition of [[White Motor Corporation]]'s assets.<ref name=diver/>

In the early 1970s, French manufacturer [[Renault]] and Volvo started to collaborate.<ref name=R1985/> In 1978, [[Volvo Cars|Volvo Car Corporation]] was spun off as a separate company within the Volvo group<ref>{{cite book |last=Styhre |first=Alexander |title=The Innovative Bureaucracy: Bureaucracy in an Age of Fluidity |date=2007 |publisher=Routledge |isbn=978-0-203-96433-0 |url=https://books.google.com/books?id=TW99AgAAQBAJ&q=Volvo&pg=PT204 |access-date=21 October 2020 |archive-date=6 April 2023 |archive-url=https://web.archive.org/web/20230406043917/https://books.google.com/books?id=TW99AgAAQBAJ&q=Volvo&pg=PT204 |url-status=live }}</ref> and Renault acquired a minority stake,<ref name="B2"/> before selling it back in the 1980s after a restructuring.<ref name=R1985/> In the 1990s, Renault and Volvo deepened their collaboration and both companies partnered in purchasing, research and development and quality control while increasing their cross-ownership. Renault would assist Volvo with entry-level and medium segment vehicles and in return, Volvo would share technology with Renault in upper segments. In 1993, a 1994 Volvo-Renault merger deal was announced. The deal was barely accepted in France, but it was opposed in Sweden, and the Volvo shareholders and company board voted against it.<ref name="B2"/><ref name=R1985>{{cite journal |date=2004 |url=http://www.cddc.vt.edu/digitalfordism/fordism_materials/Donnelly.pdf |last1=Donnelly |first1=Tom |last2=Donnelly |first2=Tim |last3=Morris |first3=David |title=Renault 1985–2000: From bankruptcy to profit |issue=30 |series=Working papers (Caen Innovation Marché Entreprise) |oclc=799704146 |archive-url=https://web.archive.org/web/20060920122519/http://www.cddc.vt.edu/digitalfordism/fordism_materials/Donnelly.pdf |archive-date=20 September 2006}}</ref> The alliance was officially dissolved in February 1994 and Volvo sold off its minority Renault stake in 1997.<ref name="B2"/> In the 1990s, Volvo also divested from most of its activities outside vehicles and engines.<ref name="B2"/>

In 1991, the Volvo Group participated in a joint venture with Japanese automaker [[Mitsubishi Motors]]  at the former [[DAF Trucks#Car business|DAF]] plant in [[Sittard-Geleen#Born|Born]], Netherlands. The operation, branded [[NedCar]], began producing the first generation [[Mitsubishi Carisma]] alongside the [[Volvo S40|Volvo S40/V40]] in 1996.<ref name="awr">[http://www.automotiveworld.com/VMSI/about.asp?profileid=4 Mitsubishi Motors Corporation Vehicle Manufacturer Strategic Insight] {{Webarchive|url=https://web.archive.org/web/20090223231158/http://automotiveworld.com/VMSI/about.asp?profileid=4 |date=23 February 2009 }}, Automotive World (subscription required)</ref><ref name="nedcar_history">{{cite web |url=http://www.nedcar.nl/content/view/19/34/lang,en/ |title=Once upon a time..." History, Nedcar.nl website |publisher=Nedcar.nl |date=1 May 2006 |access-date=16 May 2012 |url-status=dead |archive-url=https://web.archive.org/web/20070729195627/http://www.nedcar.nl/content/view/19/34/lang,en/ |archive-date=29 July 2007 }}</ref> During the 1990s, Volvo also partnered with the American manufacturer [[General Motors]]. In 1999, the [[European Union]] blocked a merger with [[Scania AB]].<ref name="B2"/>

===Refocusing on heavy vehicles===
[[File:Volvo excavator on construction site, Tomaszów Mazowiecki, Długa Street.jpg|thumb|Volvo excavator on construction site in [[Tomaszów Mazowiecki]], Poland]]
In January 1999, Volvo Group sold Volvo Car Corporation to Ford Motor Company for $6.45&nbsp;billion. The division was placed within Ford's [[Premier Automotive Group]] alongside [[Jaguar Cars|Jaguar]], [[Land Rover]] and [[Aston Martin]]. Volvo engineering resources and components would be used in various Ford, Land Rover and Aston Martin products, with the second generation [[Land Rover Freelander]] designed on the same platform as the second generation Volvo S80. The Volvo T5 petrol engine was used in the [[Ford Focus]] ST and RS performance models, and Volvo's satellite navigation system was used on certain Aston Martin Vanquish, DB9 and V8 Vantage models.<ref name="EvoC30">{{cite magazine | first = John | last = Simister | title = Volvo C30 T5 SE | date = November 2006 | url = http://www.evo.co.uk/carreviews/evocarreviews/203613/volvo_c30_t5_se.html | magazine = [[Evo (magazine)|Evo]] | access-date = 29 November 2013 | quote = The T5 petrol engine is almost the same as the one borrowed from Volvo by Ford for the Focus ST... | archive-url = https://web.archive.org/web/20131203023548/http://www.evo.co.uk/carreviews/evocarreviews/203613/volvo_c30_t5_se.html | archive-date = 3 December 2013 | url-status = dead | df = dmy-all }}</ref><ref name="ScotsmanAM">{{cite news | title = ASTON'S CLEARER ADVANTAGE | date = 29 November 2013 | url = http://www.scotsman.com/motors/reviews/aston-martin/aston-s-clearer-advantage-1-2655600 | work = [[The Scotsman]] | access-date = 29 November 2013 | quote = The optional satellite navigation remains a Volvo-sourced system that is absurdly fiddly. | archive-url = https://web.archive.org/web/20131203001804/http://www.scotsman.com/motors/reviews/aston-martin/aston-s-clearer-advantage-1-2655600 | archive-date = 3 December 2013 | url-status = live | df = dmy-all }}</ref><ref name="EvoLRFree2">{{cite magazine | first = John | last = Simister | title = Land Rover Freelander | date = December 2006 | url = http://www.evo.co.uk/carreviews/evocarreviews/204249/land_rover_freelander.html | magazine = [[Evo (magazine)|Evo]] | access-date = 29 November 2013 | quote = But it's good news for the new 'Freelander 2', based on the S-Max/S80/next-Mondeo platform, powered in the top model by a 229bhp Volvo straight-six | archive-url = https://web.archive.org/web/20131203023540/http://www.evo.co.uk/carreviews/evocarreviews/204249/land_rover_freelander.html | archive-date = 3 December 2013 | url-status = dead | df = dmy-all }}</ref> In November 1999, Volvo Group purchased a 5% stake in Mitsubishi Motors, as part of a partnership deal for the truck and bus business.<ref>{{cite web |url=http://chronicle.augusta.com/stories/1999/10/09/bus_272243.shtml#.WVIclra1tqM |title=Mitsubishi Motors announces alliance with Volvo |work=The Augusta Chronicle |date=10 October 1999 |access-date=27 June 2017 |archive-url=https://web.archive.org/web/20171020163334/http://chronicle.augusta.com/stories/1999/10/09/bus_272243.shtml#.WVIclra1tqM |archive-date=20 October 2017 |url-status=live  }}</ref> In 2001, after [[DaimlerChrysler]] bought a large Mitsubishi Motors stake,<ref>{{cite web |url=https://www.wsj.com/articles/SB982191070342881299 |last=Miller |first=Scott |title=Volvo Might Sell Its Mitsubishi Stake Because of Daimler's Control of Firm |work=The Wall Street Journal |date=15 February 2001 |access-date=27 June 2017 |archive-url=https://web.archive.org/web/20171020163019/https://www.wsj.com/articles/SB982191070342881299 |archive-date=20 October 2017 |url-status=live  }}</ref> Volvo sold its shares to the former.<ref>{{cite web |url=http://www.aftonbladet.se/minekonomi/article10205767.ab |title=Volvo säljer sitt innehav i Mitsubishi |language=sv |work=Aftonbladet |date=11 April 2001 |access-date=27 June 2017 |archive-url=https://web.archive.org/web/20171020163331/https://www.aftonbladet.se/minekonomi/article10205767.ab |archive-date=20 October 2017 |url-status=live  }}</ref>

[[Renault Trucks|Renault Véhicules Industriels]] (which included [[Mack Trucks]], but not Renault's stake in [[Iveco Bus|Irisbus]]) was sold to Volvo during January 2001, and Volvo renamed it Renault Trucks in 2002. Renault became AB Volvo's biggest shareholder, with a 19.9% stake (in shares and voting rights) as part of the deal.<ref name="VolvoPR2001">{{cite web | url = http://www.volvogroup.com/group/global/en-gb/newsmedia/pressreleases/previous/2001/_layouts/CWP.Internet.VolvoCom/NewsItem.aspx?News.ItemId=23665&News.Language=en-gb | title = AB VOLVO TRANSFER REMAINING SHARES TO RENAULT S.A | access-date = 29 November 2013 | date = 9 February 2001 | publisher = Volvo | archive-url = https://web.archive.org/web/20131203015842/http://www.volvogroup.com/group/global/en-gb/newsmedia/pressreleases/previous/2001/_layouts/CWP.Internet.VolvoCom/NewsItem.aspx?News.ItemId=23665&News.Language=en-gb | archive-date = 3 December 2013 | url-status = dead | df = dmy-all }}</ref> Renault increased its shareholding to 21.7% by 2010.<ref name="VolvoRenTel2010">{{cite news | title = Renault raises €3bn with part-sale of Volvo stake | date = 7 October 2010 | url = https://www.telegraph.co.uk/finance/newsbysector/transport/8048140/Renault-raises-3bn-with-part-sale-of-Volvo-stake.html | work = [[The Daily Telegraph]] | access-date = 29 November 2013 | archive-url = https://web.archive.org/web/20140104213838/http://www.telegraph.co.uk/finance/newsbysector/transport/8048140/Renault-raises-3bn-with-part-sale-of-Volvo-stake.html | archive-date = 4 January 2014 | url-status = live | df = dmy-all }}</ref>

AB Volvo acquired 13% of the shares in the Japanese truck manufacturer [[UD Trucks|Nissan Diesel]] (later renamed UD Trucks) from [[Nissan]] (part of the [[Renault-Nissan Alliance]]) during 2006, becoming a major shareholder. Volvo Group took complete ownership of Nissan Diesel in 2007 to extend its presence in the Asian Pacific market.<ref name="volvo.com"/><ref name="BBCNissan2007">{{cite news | title = Volvo in $1.1bn Nissan purchase | date = 20 February 2007 | publisher = [[BBC]] | url = http://news.bbc.co.uk/1/hi/business/6377751.stm | work = BBC News | access-date = 29 November 2013 | archive-url = https://web.archive.org/web/20070319014912/http://news.bbc.co.uk/1/hi/business/6377751.stm | archive-date = 19 March 2007 | url-status = live | df = dmy-all }}</ref>

Renault sold 14.9% of their stake in AB Volvo in October 2010 (comprising 14.9% of the share capital and 3.8% of the voting rights) for €3.02 billion. This share sale left Renault with around 17.5% of Volvo's voting rights.<ref name="VolvoRenTel2010"/> Renault sold their remaining shares in December 2012 (comprising 6.5% of the share capital and 17.2% of the voting rights at the time of transaction) for €1.6 billion, leaving Swedish industrial investment group {{ill|Aktiebolaget Industrivärden|sv|Industrivärden|vertical-align=sup}} as the largest shareholder, with 6.2% of the share capital and 18.7% of the voting rights.<ref name="WSJ2012">{{cite news | first = David | last = Pearson | title = Renault to Sell Rest of Its Volvo Stake | date = 12 December 2012 | url = https://online.wsj.com/news/articles/SB10001424127887323981504578175493034701024 | work = The Wall Street Journal | access-date = 29 November 2013 | archive-url = https://web.archive.org/web/20131204132054/http://online.wsj.com/news/articles/SB10001424127887323981504578175493034701024 | archive-date = 4 December 2013 | url-status = live | df = dmy-all }}</ref><ref name="IVG2012">{{cite web | url = http://www.industrivarden.se/en/Press/Press-Releases/2012/Industrivarden-strengthens-its-ownership-position-in-Volvo/ | title = Industrivärden strengthens its ownership position in Volvo | access-date = 29 November 2013 | date = 13 December 2012 | work = Industrivärden | url-status = dead | archive-url = https://web.archive.org/web/20131203003614/http://www.industrivarden.se/en/Press/Press-Releases/2012/Industrivarden-strengthens-its-ownership-position-in-Volvo/ | archive-date = 3 December 2013 | df = dmy-all }}</ref> That same year, Volvo sold Volvo Aero to the British company [[GKN]].<ref>{{cite web |url=https://www.theguardian.com/business/2012/jul/05/gkn-shares-soar-buys-volvos-aircraft-engine-business |title=GKN's shares soar as it buys Volvo's aircraft engine business |work=The Guardian |date=5 July 2012 |access-date=27 June 2017 |archive-url=https://web.archive.org/web/20180226092116/https://www.theguardian.com/business/2012/jul/05/gkn-shares-soar-buys-volvos-aircraft-engine-business |archive-date=26 February 2018 |url-status=live  }}</ref> In 2017 Volvo Cars owner [[Geely]] became the largest Volvo shareholder by number of shares after acquiring an 8.2% stake, displacing Industrivärden. Industrivärden kept more voting rights than Geely (Geely getting a 15.8%).<ref>{{cite web |url=https://mobile.reuters.com/article/amp/idUSKBN1EL0E6 |title=China's Geely turns to Volvo trucks in latest Swedish venture |work=Reuters |date=27 December 2017 |access-date=25 February 2018 |archive-url=https://web.archive.org/web/20180226092115/https://mobile.reuters.com/article/amp/idUSKBN1EL0E6 |archive-date=26 February 2018 |url-status=live  }}</ref>

In December 2013, Volvo sold its [[BlueLine Rental|Volvo Construction Equipment Rents]] division to [[Platinum Equity]].<ref>{{cite web |url=https://www.forbes.com/sites/spleverage/2014/02/12/despite-raising-eyebrows-blueline-prices-252m-pik-toggle-high-yield-bond-deal/#1ca704a012a7 |last=Fuller |first=Matthew |title=Despite Raising Eyebrows, BlueLine Prices $252M PIK Toggle High Yield Bond Deal |work=Forbes |date=12 February 2014 |access-date=27 June 2017 |archive-url=https://web.archive.org/web/20180413044155/https://www.forbes.com/sites/spleverage/2014/02/12/despite-raising-eyebrows-blueline-prices-252m-pik-toggle-high-yield-bond-deal/#1ca704a012a7 |archive-date=13 April 2018 |url-status=live  }}</ref> In November 2016, Volvo announced its intention of divesting its Government Sales division, made up mainly of Renault Trucks' Renault Trucks Defense but also of [[Panhard]], [[ACMAT]], [[Mack Trucks|Mack Defense]] in the United States, and Volvo Defense.<ref>{{cite web |url=http://www.defensenews.com/articles/volvo-begins-sales-process-of-rtd-with-no-timetable |title=Volvo Launches RTD Sale, No Timetable |author=Tran, Pierre |work=Defense News |publisher=Sightline Media Group |date=4 November 2016 |access-date=14 June 2017}}{{dead link|date=August 2021|bot=medic}}{{cbignore|bot=medic}}</ref> The project for selling the division was later abandoned and, in May 2018, Volvo reorganized Renault Trucks Defense and renamed it Arquus.<ref>{{cite journal |url=https://www.usinenouvelle.com/article/armement-terrestre-renault-trucks-defense-volvo-devient-arquus.N697694 |trans-title=Ground army: Renault Trucks Defense (Volvo) becomes Arquus |author=Altmeyer, Cyril |title=Armament terrestre: Renault Trucks Defense (Volvo) devient Arquus |language=fr |journal=L'Usine Nouvelle |date=24 May 2018 |access-date=1 April 2019 |archive-url=https://web.archive.org/web/20190401005537/https://www.usinenouvelle.com/article/armement-terrestre-renault-trucks-defense-volvo-devient-arquus.N697694 |archive-date=1 April 2019 |url-status=live  }}</ref>

In December 2018, Volvo announced it intended to sell a 75.1% controlling stake of its car [[telematics]] subsidiary WirelessCar to [[Volkswagen Group|Volkswagen]] with the aim of focusing on telematics for commercial vehicles.<ref>{{cite web |title=Volvo Group To Divest 75.1% Of Shares In WirelessCar Unit To Volkswagen |url=https://markets.businessinsider.com/news/stocks/volvo-group-to-divest-75-1-of-shares-in-wirelesscar-unit-to-volkswagen-1027820935 |work=Markets Insider |date=19 December 2018 |access-date=1 April 2019 |archive-url=https://web.archive.org/web/20190401005537/https://markets.businessinsider.com/news/stocks/volvo-group-to-divest-75-1-of-shares-in-wirelesscar-unit-to-volkswagen-1027820935 |archive-date=1 April 2019 |url-status=live  }}</ref> The sale was completed in March 2019.<ref>{{cite press release |title=Volvo Group has completed the sale of shares in WirelessCar |url=https://www.volvogroup.com/en-en/news/2019/mar/news-3252243.html |publisher=Volvo |date=29 March 2019 |access-date=1 April 2019 |archive-url=https://web.archive.org/web/20190401005539/https://www.volvogroup.com/en-en/news/2019/mar/news-3252243.html |archive-date=1 April 2019 |url-status=live  }}</ref>

In December 2019, Volvo and [[Isuzu]] announced their intention of forming a [[strategic alliance]] on commercial vehicles. As part of the agreement, Volvo would sell UD Trucks to Isuzu.<ref>{{cite web |title=Isuzu tackles emerging rivals and R&D costs with Volvo tie-up |url=https://asia.nikkei.com/Business/Automobile/Isuzu-tackles-emerging-rivals-and-R-D-costs-with-Volvo-tie-up2 |work=Nikkei Asian Review |date=20 December 2019 |access-date=20 December 2019 |last1=Okada |first1=Emi |last2=Yamada |first2=Kohei |last3=Fukao |first3=Kosei |archive-date=20 December 2019 |archive-url=https://web.archive.org/web/20191220095844/https://asia.nikkei.com/Business/Automobile/Isuzu-tackles-emerging-rivals-and-R-D-costs-with-Volvo-tie-up2 |url-status=live }}</ref> The "final agreements" for the alliance were signed in October 2020, with UD Trucks sale pending on regulatory clearances.<ref>{{cite press release |url=https://www.volvogroup.com/en-en/news/2020/oct/news-3815893.html |title=Volvo Group and Isuzu Motors sign final agreements to form strategic alliance |publisher=Volvo |date=30 October 2020 |access-date=2 January 2020 |archive-date=16 November 2020 |archive-url=https://web.archive.org/web/20201116220708/https://www.volvogroup.com/en-en/news/2020/oct/news-3815893.html |url-status=live }}</ref> The sale was completed in April 2021.<ref>{{Cite news|title=Volvo Group and Isuzu Motors complete UD Trucks transaction as part of the strategic alliance|url=https://www.volvogroup.com/en-en/news/2021/apr/news-3935150.html|access-date=1 April 2021|website=www.volvogroup.com|language=English|archive-date=1 April 2021|archive-url=https://web.archive.org/web/20210401060924/https://www.volvogroup.com/en-en/news/2021/apr/news-3935150.html|url-status=live}}</ref>

In the early 2020s, Volvo partnered with other manufacturers to deploy infrastructure for non-[[hydrocarbon]] energies. In April 2020, Volvo and [[Daimler AG|Daimler]] (later [[Daimler Truck]]) announced that the former planned to acquire half of Daimler's [[fuel cell]] business, forming a joint venture between the two companies.<ref>{{cite web |title=Volvo buying half of Daimler's fuel cell activities as firms form venture |url=https://www.marketwatch.com/story/volvo-buying-half-of-daimlers-fuel-cell-activities-as-firms-form-venture-2020-04-21 |work=MarketWatch |date=21 April 2020 |access-date=21 April 2020 |last=Goldstein |first=Steve |archive-date=22 May 2020 |archive-url=https://web.archive.org/web/20200522143214/https://www.marketwatch.com/story/volvo-buying-half-of-daimlers-fuel-cell-activities-as-firms-form-venture-2020-04-21 |url-status=live }}</ref> In March 2021, the fuel cell business was reorganised as a joint venture called Cellcentric.<ref>{{Cite web |title=Daimler, Volvo seek huge cuts in hydrogen fuel cell costs by 2027 |url=https://www.reuters.com/business/energy/daimler-volvo-plan-hydrogen-fuel-cell-production-europe-2025-2021-04-29/ |last=Carey |first=Nick |date=29 April 2021 |access-date=26 February 2023 |publisher=Reuters |archive-date=26 February 2023 |archive-url=https://web.archive.org/web/20230226142255/https://www.reuters.com/business/energy/daimler-volvo-plan-hydrogen-fuel-cell-production-europe-2025-2021-04-29/ |url-status=live }}</ref> In December 2021, Volvo, Daimler Truck, and [[Traton]] agreed to the formation of an equally owned joint venture aimed to build an [[electric vehicle charging network]] for heavy vehicles in Europe.<ref>{{Cite web |title=Volvo, Daimler and Traton agree on JV charging network for trucks |url=https://insideevs.com/news/555418/volvo-daimler-traton-jv-charging/ |last=Kane |first=Mark |date=19 December 2021 |access-date=26 February 2023 |work=InsideEVs |archive-date=26 February 2023 |archive-url=https://web.archive.org/web/20230226142300/https://insideevs.com/news/555418/volvo-daimler-traton-jv-charging/ |url-status=live }}</ref> In December 2022, the joint venture (called Commercial Vehicle Charging Europe) began operations under the [[trade name]] Milence.<ref>{{Cite web |title=Milence charging network accelerates Europe's shift to fossil-free road transport |url=https://www.ukhaulier.co.uk/news/road-transport/innovation/milence-charging-network-accelerates-europes-shift-to-fossil-free-road-transport/ |date=8 December 2022 |access-date=26 February 2023 |work=UK Haulier |archive-date=26 February 2023 |archive-url=https://web.archive.org/web/20230226142257/https://www.ukhaulier.co.uk/news/road-transport/innovation/milence-charging-network-accelerates-europes-shift-to-fossil-free-road-transport/ |url-status=live }}</ref>

In April 2021, Volvo announced that it had signed up a new partnership with steel manufacturer [[SSAB]] to develop fossil fuel-free steel for future use in Volvo's vehicles.<ref>{{Cite web|title=Volvo investigates fossil fuel-free steel collaboration with SSAB|url=https://www.ssab.com/news/2021/04/volvo-group-and-ssab-to-collaborate-on-the-worlds-first-vehicles-of-fossilfree-steel|url-status=live|access-date=25 June 2021|website=SSAB|language=en|archive-date=30 July 2021|archive-url=https://web.archive.org/web/20210730230536/https://www.ssab.com/news/2021/04/volvo-group-and-ssab-to-collaborate-on-the-worlds-first-vehicles-of-fossilfree-steel}}</ref> The partnership is derived from SSAB's own green steel venture, HYBRIT.<ref>{{Cite web|date=16 June 2021|title=Volvo Cars to test fossil-free steel from SSAB's HYBRIT venture|url=https://www.reuters.com/business/autos-transportation/volvo-cars-test-fossil-free-steel-ssabs-hybrit-venture-2021-06-16/|access-date=25 June 2021|website=Reuters|archive-date=25 June 2021|archive-url=https://web.archive.org/web/20210625151310/https://www.reuters.com/business/autos-transportation/volvo-cars-test-fossil-free-steel-ssabs-hybrit-venture-2021-06-16/|url-status=live}}</ref>

In November 2023, Volvo acquired [[Proterra (bus manufacturer)|Proterra]]'s battery business for US$210 million.<ref>{{Cite news |date=10 November 2023 |title=Truckmaker Volvo to buy Proterra's battery business for $210 mln |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/truckmaker-volvo-buy-proterras-battery-business-210-mln-2023-11-10/ |access-date=13 November 2023}}</ref>

Volvo has announced that it is developing [[Hydrogen internal combustion engine vehicle|trucks with combustion engines]] that run on hydrogen. Commercial tests will begin in early 2026.<ref>{{cite web | url=https://www.farms.com/service-truck-magazine/2024/aug-sep/24/ | title=Service Truck Magazine &#124; Aug Sept 2024 }}</ref>