Ford plans major Volvo investment
30 Jun 2006, 10:00
Published: 30 Jun 2006 10:00 GMT+02:00
Volvo Car, a Ford subsidiary since 1999, said it too was ready to look toward the future, and was ready to invest 10 billion kronor to improve fuel economy and tailpipe emissions of its global fleet.
“We are very pleased that Ford Motor Company has decided to establish a development-centre for hybrid technology in Gothenburg,” said Fredrik Arp, Volvo Car’s CEO.
“This shows a strong belief in Volvo Cars and our ability to deliver results in future advanced technologies and underline the fact that Sweden has all the pre-requisites for research and development excellence.”
The new centre will be staffed initially by a mix of 20 engineers from both Volvo Cars and other Ford brands, and will help speed the introduction of more fuel-efficient vehicles into the market.
Volvo Car’s investment will focus primarily on the development deployment of cleaner, more efficient diesel engines, hybrids and alternative fuel vehicles, the use of lighter metals, and the introduction of smaller vehicles.
“Volvo Car’s commitment to the environment is long-standing and well-recognized – it is part of what people know us for,” said Arp. “With this significant investment we are ensuring that our tradition continues in the years to come and that Volvo customers' green aspirations will be met,” added Fredrik Arp
The Gothenburg-based company has some 27,000 employees around the world.