Volvo acquires majority stake in Designwerk

The Volvo Group now holds 60 percent of the shares in Designwerk, an engineering and production electro-mobility company. The startup will remain independent while continuing to grow and further expand. 

Founded in 2007, Designwerk drives electromobility forward with innovative products and projects and aims to promote sustainable mobility. In 2019, Designwerk Products AG took over over a series of products from the parent company Designwerk Technologies AG and has since been offering customized electric trucks under the brand Futuricum, mobile rapid chargers and high voltage battery systems. Several companies including Logistics company DPD, Holcim, KIBAG among others have invested in sustainable transportation with Designwerk's e-trucks. 

To complement its current capabilities in niche products and solutions, the Volvo Group has signed definitive agreements to invest in the Designwerk Group by acquiring a 60 percent stake in Designwerk Group. The startup will remain a standalone company while it leverages Volvo’s expertise to develop additional products and boost growth and expansion.

“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.

“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.

The transaction is expected to conclude in the coming weeks.

(Press release / RAN)