Volvo Begins Production of Heavy-Duty Electric Trucks

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By Michael Elkins

Volvo Group (OTC:VLVLY) hit an important milestone Wednesday, as the truck manufacturing division, Volvo Trucks, announced its 44-ton electric trucks are hitting the production line. The heavy-duty truck maker now officially has three heavy duty electric truck models underway.

According to the company, the range for the electric FM is up to 380 kilometers, or just over 236 miles. Ranges for the FMX and FH are up to 320 km and 300 km, respectively.

In a statement, Volvo Trucks said the electrified Volvo FM, Volvo FMX and Volvo FH vehicles could run at a weight totaling 44 metric tons.

Speaking to CNBC on Wednesday morning, Volvo Trucks President Roger Alm was bullish about the company’s prospects going forward.

“We have actually already sold 1,000 units of these heavy-duty electrical trucks before the production start,” he said. Elm went on to add that the business saw “an increasing demand coming ahead of us as well.”

In remarks published on his firm’s website, Elm said that, by the year 2030, “at least 50 percent of the trucks we sell globally should be electric.”