26. April 2021 – Volvo Group has signed definitive agreements to invest in the Designwerk Group, an engineering and production company in Switzerland, that develops, produces, and sells electromobility products and engineering services within electromobility eco-systems. By acquiring 60 percent of the Designwerk Group, the Volvo Group will complement its current capabilities when it comes to niche products and solutions. Designwerk will leverage Volvo’s confidence in their pioneering products for further growth.
“The Designwerk Group has 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,” says Lars Stenqvist, Volvo Group Chief Technology Officer.
Designwerk Group offers customized electric trucks under the brand Futuricum, mobile rapid chargers and high voltage battery systems. As an innovative company Designwerk is working in fast feedback loops in development with customers to constantly improve their offering.
“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,” says Adrian Melliger, CEO of the Designwerk Group.
Designwerk will continue to operate as a standalone company. The investment by Volvo Group, however, gives Designwerk Group the opportunity to handle the growth and further expand the organisation.
Completion of the transaction is expected to occur in the coming weeks.