Volvo Group has announced that it has signed definitive agreements to acquire 60 percent of Designwerk Technologies, an engineering company in Switzerland, that develops and sells electromobility products and engineering services within electromobility eco-systems.
By investing in Designwerk Technologies, the Volvo Group aims to complement its current capabilities when it comes to niche products and solutions. Designwerk Technologies offer customised electric trucks under the brand Futuricum, mobile rapid chargers and high voltage battery systems. The company is working in fast feedback loops in development with customers to constantly improve their offering.
Lars Stenqvist, CTO, Volvo Group said: “Designwerk Technologies have strong competencies within electromobility, focused on developing, prototyping and producing low volume niche products in the entire industrial electromobility spectrum, which makes it a great complement to the Volvo Group’s capabilities. This investment will support the Volvo Group transition towards climate neutral transport solutions across segments.”
Adrian Melliger, CEO, Designwerk Technologies said: “We look forward to continuing to support Volvo Group’s electromobility transformation, with additional agility and performance. By adding the scale and competencies of Volvo to our niche production we will both be able to speed up the necessary implementation of electric vehicles and supporting infrastructure, and increase the share of zero-emission journeys on the roads.”
Post the transaction, Designwerk Technologies will continue to operate as a standalone company.