Volvo receives driveline development grant
Jul 3, 2008 11:28 AM
The government of the United States and the Swedish State have provided a three-year, $18 million grant to the Volvo Group to further development of hybrid technology and drivelines for alternative fuels.
The cooperative effort is an extension of the one-year research and cooperation agreement signed between the Volvo Group and the Swedish and US governments in June 2007. The cooperation is aimed at reducing heavy vehicles’ use of fossil fuels through research and development projects in the areas of energy efficiency, drivelines for alternative fuels and hybrid solutions.
"The climate issue and increasing fuel prices make energy use and energy efficiency some of the most important societal issues of our time. The transportation industry has a special responsibility and this research and development co-operation with the U.S. Government is crucial in our efforts to develop the drivetrains and technology required by both our customers and society as a whole”, says Leif Johansson, CEO of the Volvo Group.
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