All about Volvo Cars

 Electric / Autonomous
 Global manufacturing footprint
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Mar 03, 2023

On March 2, Polestar announced that its revenues increased by 84% to USD 2461.9 million in 2022, against USD 1337.2 million in 2021, mainly driven by higher Polestar 2 vehicle sales with continued commercial expansion across markets.
Gross profit increased by USD 118.5 million, as the result of higher Polestar 2 sales and lower fixed manufacturing costs. Research and development expenses decreased by USD 62.0 million, or 27% due to the absence of Polestar 1 amortization.
For 2023, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, predominantly driven by Polestar 2 sales. For the year as a whole, Polestar expects gross margin to be broadly in line with 2022, with volume and product mix supporting margin progression later in the year. While liquidity has strengthened, including a cash balance of approximately USD 1 billion as of December 31, 2022, Polestar continues to explore potential equity or debt offerings to raise additional capital to fund operations and business growth.

Based on Polestar press release

Mar 03, 2023

On February 28, Volvo Cars held a signing ceremony for a new battery electric vehicle (BEV) project and an optimization and upgrading project for models in production at its Chengdu site in Chengdu, Sichuan.
Volvo Cars plans to place one new high-end BEV and optimize and upgrade models in production at the Chengdu Plant, which currently produces models such as the S60 and the XC60.
From a Chengdu Economic and Technological Development Zone press release

Feb 27, 2023

On February 27, Volvo Cars announced that it is planning to open a brand-new Tech Hub in Krakow, Poland’s second-largest city. It will be a key software development center and play a crucial role in its strategic ambitions to be a fully electric brand by 2030.
The Tech hub will carry full responsibility for developing complete and key features on its new fully electric cars. The engineers in Krakow will join Volvo Cars' global pool of talent to boost innovation speed by developing software for key areas for Volvo Cars – from core safety technology based on its deep understanding of what causes accidents to perception and driver assistance algorithms and software for autonomous driving.
Other engineering challenges include developing next-generation connected features or supporting all development work through data analytics. The new Tech Hub will be operational by the end of this year, with around 120 bright engineering minds in place.
By the mid-decade, Volvo Cars aim to employ between 500 and 600 people in Krakow, complementing and closely linked to its core engineering centers in China and Sweden, as well as other tech hubs around the world.

Based on Volvo Cars press release