Volvo Trucks is using a multi-billion SEK investment to improve its trucks and stay competitive worldwide. They are introducing a new fuel-saving engine that can use many renewable fuels, including hydrogen in the future, and new electric drivetrains with ranges up to 700 km. This will make Volvo trucks ready for all markets and types of transport.
Volvo’s customers around the world need different types of efficient engines because fuel supply, fuel stations, and preferences are different in each region.
Volvo is also launching a new heavy-duty electric truck with a 700 km range and updating other electric models so more trucks can switch from traditional fuels to electricity.
The combustion engine is still important for Volvo’s goal to reach net zero emissions. They are launching a new 13-litre engine platform that will be used for both diesel and gas engines.
According to coherent market insights, the Industrial Truck Market is expected to grow at a CAGR of 5.3% during 2026 to 2033. Currently, the market is at USD 38.40 Bn in 2026 and is expected to be around USD 55.13 Bn by 2033. The market is seeing the use of advanced technologies such as IoT, AI, electric powertrains, etc., which improve operational efficiency and reduce environmental impact. There is also a growing preference to be seen for electric and automated industrial trucks because of stricter emission regulations and the push towards sustainability.
"This is a hugely important launch as the decarbonization of the transport industry needs to accelerate. Our new electric trucks are capable of replacing traditional trucks in most cases. However, in certain regions and transport segments we also need the combustion engine to reduce CO2 now, and in the future. One single engine platform will give us synergies and larger production volumes," says Roger Alm, President Volvo Trucks.
Source:
Press Release: Volvo Trucks
Company: Volvo Trucks