Volvo to acquire 60% of Designwerk Technologies to bolster e-mobility capabilities
Designwerk Technologies continues to operate as a standalone firm
Volvo Group has signed definitive agreements to acquire 60% of Designwerk Technologies AG, a Switzerland-based engineering company that develops and sells electromobility products, according to the company press release on 26 April. Designwerk Technologies continues to operate as a standalone firm. The transaction is expected to be completed in the coming weeks and is not expected have a significant impact on the Volvo Group’s earnings or financial position.