Author: GasanZammit Editor

The new Volvo ES90: a big electric car with a small carbon footprint With the new and fully electric ES90, which starts production later this summer and is produced with climate-neutral energy, Volvo Cars launches a car designed with sustainability in mind. This is reflected by the new Life Cycle Assessment (LCA) report for the ES90, which describes which materials and processes contribute to the car’s carbon footprint over its life cycle. The total carbon footprint of the ES90 is 31 tonnes when using a European energy mix to charge it. When using wind energy to charge the ES90, that figure falls to 26 tonnes. With a European energy mix, the ES90’s footprint is approximately 50 per cent lower than the Volvo S90 mild hybrid variant, and 30 per cent lower than a plug-in hybrid S90. It is also lower than the EX40 and EC40. This means the ES90 has one of the lowest carbon footprints of any Volvo car to date. It also demonstrates that fully electric cars are a good choice both for customers and for the climate. The third-party verified LCA report identifies the key contributing materials and processes to the car’s carbon footprint. Focused on greenhouse gas emissions, the report covers the car’s life cycle, starting with the extraction and refining of raw materials and ending with the car’s end-of-life. “We go above and beyond existing legislation and have clear ambitions because that is important to us,” says Vanessa Butani, head of global sustainability at Volvo Cars. “We aim to achieve net-zero greenhouse gas emissions by 2040, and our ambition to be a leader in electrification is one step in that direction. The ES90 represents our holistic approach to sustainability, including the circular economy, climate-neutral manufacturing and responsible business.”  A holistic approach beyond what is required When it launched its first fully electric car in 2019, Volvo Cars was the first car maker that pledged to release LCA reports for all its global fully electric models. By publicly issuing the reports, the company aims to help customers make informed decisions when choosing their next electric car. It has since issued LCA reports for five models: the Volvo EX40, EC40, EX30, EX90 and now the ES90. In addition to being a fully electric car with zero tailpipe emissions, the ES90 has been designed with a holistic approach towards sustainability. For example, it is the first Volvo car equipped with the company’s new 800-volt electric system. This creates benefits in terms of charging and energy efficiency, thanks to lighter components that reduce the car’s overall weight. The car’s design also helps to improve efficiency and delivers a drag coefficient of 0.25, the best in Volvo Cars history. The ES90 is built with 29 per cent recycled aluminium, 18 per cent recycled steel, as well as 16 per cent recycled polymers and bio-based materials such as real, FSC-certified wood in the cabin. Inside, customers can pick a Nordico upholstery option made from recycled material such as PET bottles and bio-attributed material. The ES90 also comes with Volvo Cars’ world-first battery passport, based on blockchain technology that allows the company to track the origin of raw materials and the overall health of the battery. The first customer-bound ES90 will roll off the production line this summer. It is available for order now in Austria, Belgium, the Czech Republic, Finland, France, Germany, Greece, Hungary, Italy, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the United Kingdom, with other markets added later this year and in 2026. For more details, check the Volvo Cars webpage.  ——————————-  Volvo Cars in 2024 For the full year 2024, Volvo Car Group recorded a record-breaking core operating profit of SEK 27 billion. Revenue in 2024 amounted to an all-time high of SEK 400.2 billion, while global sales reached a record 763,389 cars.  About Volvo Car Group Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”. “For life. To give people the freedom to move in a personal, sustainable and safe way.” This purpose is reflected in Volvo Cars’ ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040.  As of December 2024, Volvo Cars employed approximately 42,600 full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).  For further information please contact: Volvo Cars Media Relations +46 31-59 65 25 media@volvocars.com  Volvo Cars Investor Relations  +46 31-793 94 00 investors@volvocars.com 

The XC60 is now the best-selling Volvo car of all time With more than 2.7 million cars sold, the Volvo XC60 has surpassed the iconic Volvo 240 as the best-selling Volvo model ever. Since its debut in 2008, Volvo Cars’ mid-size SUV has remained a favourite among customers, appealing to a wide range of drivers who value safety, quality and a premium driving experience. Initially built exclusively in Europe, the XC60 later became the first global Volvo model to also be produced in China, supporting local sales. In 2018, it was named World Car of the Year. The current generation XC60 introduced plug-in hybrid drivetrains to a broader audience, and it was the best-selling plug-in hybrid in Europe last year. For the 2026 model year, the XC60 has undergone a significant refresh with a modernised design, more intuitive user experience, improved comfort, and a more responsive infotainment system. “Growing up in Sweden in the 1980s, the Volvo 240 was the iconic family car – you could spot one in almost every driveway,” says Susanne Hägglund, head of Global Offer at Volvo Cars. “Today the XC60 has taken over that position in two ways. Not only as the family favourite, but also becoming our all-time top-seller, which in itself is the ultimate proof point of a successful car. And now, with the latest updates, it gets even better.” The perfect family carThe XC60 is the ideal all-rounder for families, effortlessly combining cutting-edge safety features, Scandinavian design and SUV practicality into one confident package. It has rightfully earned its position as a cornerstone in Volvo Cars’ proud tradition of building cars that families trust. For years, the Volvo 240 estate was the most popular choice for families all over the world, loved for its safety qualities and fine driving characteristics. In many people’s eyes, it defined what an estate car should be. Today, the SUV has replaced the estate as the obvious family pick, and the XC60’s new status as Volvo Cars’ best-selling model of all time clearly reflects this shift in what customers want and need. Many who grew up with the Volvo 240 are now choosing the XC60 for their own families. And just like the 240 helped shape their childhoods, today’s XC60 is creating memories for a new generation. Two cars, one safety heritageWhen the Volvo 240 was introduced in 1974, it set safety benchmarks that would remain relevant for decades. For its time, it featured an advanced body design with front and rear crumple zones, along with a reinforced passenger compartment. This kind of safety cage continues to protect Volvo occupants on the road today. The 240 was also among the first cars to incorporate enhanced side-impact protection, which later evolved into Volvo’s patented Side-Impact Protection System (SIPS). Additionally, the introduction of the Child Booster Cushion in 1978 marked a world-first innovation. The Volvo XC60 has continued to introduce numerous advanced safety technologies, such as City Safety – the world’s first standard low-speed automatic emergency braking system designed to help avoid or mitigate a collision at speeds up to 30 km/h. Launched in 2008, this feature has since become commonplace on new cars around the world. In another world-first, the XC60 introduced Oncoming Lane Mitigation in 2017 with a system capable of steering you back into your lane if you drift into oncoming traffic. These innovations have earned the car several independent safety awards. Just as the 240 was at the time, the refreshed Volvo XC60 is one of the safest cars on the road. With its advanced safety cage and the latest active safety and driver support tech, it’s designed to help protect you and your passengers. Bridging the gap to a fully electric futureThe refreshed XC60, along with other recent upgrades across the lineup, also play a key role in Volvo Cars’ electrification strategy, offering pure electric driving with the reassurance of a combustion engine for those not quite ready to go fully electric. Volvo Cars’ data shows that around half of the distance covered by the latest plug-in hybrid Volvo cars globally is powered purely by electricity.* The small print The Volvo 240 was produced between 1974 and 1993 with 2,685,171 cars built. The 240 was made in Gothenburg and Kalmar, Sweden as well as in Ghent, Belgium. The final Volvo 240 rolled off the line at the Torslanda plant in Gothenburg on 5 May, 1993. The XC60 is currently produced at our plants in Torslanda and Chengdu, China. *Volvo Cars data covering long-range plug-in hybrid cars in global markets: on average 48% of distance driven uses electric-only power. Volvo Cars in 2024For the full year 2024, Volvo Car Group recorded a record-breaking core operating profit of SEK 27 billion. Revenue in 2024 amounted to an all-time high of SEK 400.2 billion, while global sales reached a record 763,389 cars.   About Volvo Car GroupVolvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.   “For life. To give people the freedom to move in a personal, sustainable and safe way.” This purpose is reflected in Volvo Cars’ ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040. As of December 2024, Volvo Cars employed approximately 42,600 full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).   For further information please contact: Volvo Cars Media Relations+46 31-59 65 25media@volvocars.com Volvo Cars Investor Relations+46 31-793 94 00investors@volvocars.com

8 Ways to Cut Your Fleet’s CO₂ Emissions What to consider when developing a more sustainable company car policy to achieve a smaller environmental footprint? Here’s a helping guide for achieving the ambitions for your fleet. Your current carbon footprintIn order to reduce the carbon emissions from your fleet you will first need to measure your current footprint. What are the CO₂ emissions of your vehicles over the last year of operation? To calculate the CO₂ tailpipe emissions of petrol and diesel cars, as well as for plug-in hybrid cars, take the certified fuel consumption for each vehicle in CO₂ g/km, and multiply it with the total distance in kilometres driven for the same vehicle. For plug-in hybrid cars, the CO₂ tailpipe emissions will depend on how much the car is driven in fully electric and hybrid mode, but the certified fuel consumption can be used as a fair estimate. For a fully electric car, the CO₂ tailpipe emissions will be zero. For pure electric and plug-in hybrid cars, also remember to include emissions from producing the electricity needed to charge your company cars. To calculate this, multiply the certified energy consumption per kilometre of the car with the total kilometres driven on electricity, and with the yearly average CO₂ grams per kWh of the country the car is charged within. Go for zeroElectric vehicles that produce zero tailpipe emissions while driving can contribute to huge CO₂ savings for your fleet. Across many parts of Europe, fossil-free electricity is available, thanks to nuclear power or renewable sources like wind and solar. When electricity comes from more polluting sources, the emissions of producing the electricity happen further up in the supply chain. But nevertheless, electric vehicles still maintain a lower overall carbon footprint than their petrol and diesel equivalents – even when using electricity generated from coal or gas. To document the environmental impact of electric cars as transparently as possible, Volvo Cars has since 2019 published comprehensive life cycle assessments of its new electric models. These reports examine the total carbon footprint over the complete lifecycle, including which materials and processes contribute most to the vehicle’s emissions – from raw material extraction and processing to end-of-life disposal. The latest report for Volvo EX90 shows, for example, that the car’s carbon footprint over its entire life cycle is approximately 50 percent lower than that of a Volvo XC90 mild hybrid if charged using the average European electricity mix. If, instead, the car is charged using renewable energy sources such as wind power, the EX90’s carbon footprint is reduced even further, by 17 percent compared to using the European electricity mix. Power upIn addition to zero-emission vehicles in your fleet, the drivers can add to reducing the overall environmental footprint by smart charging, taking advantage of lower off-peak energy rates compared to peak times, creating demand when there is surplus of energy. Luckily, low hourly electricity prices tend to have a high correlation to low CO₂ intensity of the electricity being charged, as renewable sources are often the cheapest to produce. Charging cheap is therefore often the same as charging clean. The new vehicle-to-grid technology is also under development. It’s a true investment in the future, transforming the car’s battery into a portable power plant. A car is often parked for many hours each day, even company cars. With vehicle-to-grid functionality, the car can be connected to an office or home charger, and electricity from the car battery can be used during the hours of the day when electricity prices are at their highest. This functionality allows the car to support the grid when needed, further reducing the need for high-emission and high-cost electricity production. Plug in plug-in hybridsPlug-in hybrid vehicles offer a low-emission bridge toward full electrification for many companies and their employees. However, their environmental benefits depend on drivers actually charging them to take full advantage of their electric range. If a plug-in hybrid car is rarely plugged in, it effectively turns them into inefficient petrol vehicles carrying the extra weight of an unused battery – ultimately leading to increased carbon emissions. For a more sustainable use of plug-in hybrids the company car policy should state that the majority of the daily mileage should be achieved in electric mode with the combustion engine only being used when needed for longer journeys. Tyres matterSelecting tyres with low rolling resistance can significantly reduce fleet emissions. Studies indicate that around 80 percent of a tyre’s total CO₂ emissions come from the impact it has on the car’s energy efficiency during use, rather than the tyre’s production or disposal. When choosing tyres, look for fuel/energy efficiency ratings on tyre labels, along with grip performance in wet or icy conditions and external noise levels. Switching from low to high efficiency-rated tyres can improve energy consumption by several percent, cutting CO₂ emissions for a properly inflated full set. Because maintaining correct tyre pressure is also key. Encourage drivers to check their vehicles’ tyre pressure regularly. Under-inflated tyres increase rolling resistance, wear more quickly, increase braking distance and consume more energy. Stay on top of servicingRegular servicing of petrol, diesel and plug-in hybrid cars keeps them running efficiently and smoothly. Therefore, following service schedules helps reduce fuel/energy consumption and tailpipe emissions while maintaining vehicle performance. Even though there are fewer moving parts in the e-motors of an electric vehicle, and it can be serviced less often, it still needs regular servicing to ensure that for example the battery, brakes and tyres are checked, which can affect emissions. Another benefit of following service schedules, at authorised workshops, is that they can also detect and help mitigate potential future issues before they happen. Smart drivingMapping the shortest route is a good starting point for cutting CO₂, but it’s equally important to avoid traffic-heavy times and congested roads. Vehicles use less fuel and emit less CO₂ in free-flowing traffic. With Google Maps built-in*, available in new Volvo company cars, real-time traffic info and automatic rerouting is there to help drivers reach their destination as efficiently as possible. However, …

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Volvo Cars signs recycled steel deal with SSAB Volvo Cars has signed a new agreement with Swedish steel firm SSAB for the supply of high-quality, recycled and near zero-emissions steel starting from 2025. Volvo Cars is the first car maker to sign a supply agreement for recycled, near zero-emissions steel for serial production deliveries. Initially, the recycled steel will be produced in SSAB’s Iowa mill in the USA, with production moving to Sweden at a later stage. The agreement is an extension of a long-term existing collaboration between the two companies, with the purpose of being at the forefront of the transition to more sustainable steel. In addition to buying recycled and near zero-emission steel, Volvo Cars progresses towards its circular ambitions by also selling scrap steel, helping Volvo Cars to keep materials at the highest value for the longest period of time in a closed loop system. “One of the biggest sources of CO₂ emissions in our production process is the steel we use to build our cars, averaging 25 percent of all material-related emissions for a new Volvo car,” says Francesca Gamboni, our chief supply chain and manufacturing officer. “We work towards achieving net-zero greenhouse gas emissions by 2040, and cutting steel-related emissions really has the potential to move the needle.” The recycled steel will be used in selected components of the forthcoming, fully electric EX60 SUV, as well as other cars based on Volvo Cars’ next-generation SPA3 car architecture. Crucially, this recycled steel meets the same safety-related requirements as for primary steel in terms of strength and durability. SSAB’s closed loop system recycles scrap steel, significantly reducing  CO₂ emissions and keeping materials and natural resources in use for longer. Compared with traditionally produced steel in Europe, SSAB’s recycled steel generates almost 100 per cent less CO₂ emissions in own operations and is made with a recycled content of almost 100 percent. “Steel is an important material to ensure the safety, strength and durability of our products and traditionally it’s a significant contributor to our carbon emissions,” says Francesca Gamboni. “By signing this agreement, we have taken an important step in reducing the impact on the environment and increase the awareness for using recycled materials within our supplier network.” Volvo Cars is committed to a fully electric future and has the ambition to achieve net-zero greenhouse gas emissions by 2040. By 2030, the aim is to have reduced CO₂ emissions per car by 65-75 per cent compared to a 2018 baseline, by continuously reducing CO₂ emissions across the value chain.  The agreement with SSAB is an example of this. It also supports Volvo Cars’ circularity ambitions, with the aim to use an average of 30 per cent recycled content across the fleet by 2030, and for new car models released from 2030 to contain at least 35 per cent recycled or bio-based content. Volvo Cars in 2024For the full year 2024, Volvo Car Group recorded a record-breaking core operating profit of SEK 27 billion. Revenue in 2024 amounted to an all-time high of SEK 400.2 billion, while global sales reached a record 763,389 cars.  About Volvo Car GroupVolvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.  “For life. To give people the freedom to move in a personal, sustainable and safe way.” This purpose is reflected in Volvo Cars’ ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040.  As of December 2024, Volvo Cars employed approximately 42,600 full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).