This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Volvo Car Group Starts Production Of A New Engine Family

GOTEBORG, Sweden, May 13, 2013 /PRNewswire/ --



Volvo Car Group is now starting production of the first engine variants in the new, high-efficiency four-cylinder engine family. The development and production take place in-house at Volvo Car Group and form a vital part of the company's strategy for independence.

To view the Multimedia News Release, please click:

http://www.multivu.com/mnr/60659-volvo-produces-new-engine-family

The strategy of four-cylinder petrol and diesel engines and driveline electrification is the path that Volvo Cars has chosen for the future. With total control over the development and production of engines and drivelines and by reducing the number of engine variants, the result is increased flexibility and greater ability to influence quality.

"This marks a milestone in Volvo Cars' history. With our new engine family we are focusing on two additional vital properties - driving pleasure and fuel efficiency," says Derek Crabb, Vice President Powertrain Engineering.

Modern production plant with efficient assembly

In Volvo Car Group's engine plant in Skövde, preparations for the production start of the new Volvo Engine Architecture (VEA) engines have been under way for about two years. One of the highlights is a brand-new, state-of-the-art addition to the plant for assembly of the new engines. All the engine versions are built on the same line, which runs through the new part of the plant and makes for very efficient production.

"One of the biggest challenges was the remodelling of the line for cylinder block processing. 30 machining cells were replaced or converted at a cost of about half a billion kronor," says Oskar Falk, Vice President Global Engine Production.

Billions invested in a competitive engine family

Development and investment in the new engine family is part of a comprehensive expansion plan at Volvo Cars. About two billion kronor was invested in the Skövde plant. This secures operations there and a large number of jobs for a long time to come. The investment is the most important in the engine plant's history.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs