Volvo Cars establishes ‘Green Finance Framework’ to fund electrification strategy

New framework will pave way for first green bond by Swedish carmaker

Volvo Cars has established a new framework to help it fund its ambitious vehicle electrification strategy and climate plan, the company said in a press release on 24 September. The company’s Green Financing Framework will pave way for its first green bond. Volvo will use proceeds of such bond to fund development of new electric car models, new vehicle platforms and powertrain technology. It will also be used for increased production capacity for batteries and electric cars.