To boost investment in exploring sustainable technologies – in line with the Volvo Group’s sustainability aims – the company will focus on its inboard and sterndrive development transformation – with greater fuel efficiency and zero emissions through hybrid, electric, and renewable fuels being the new direction.
Earlier this week the Volvo Group announced the ambition to be a net-zero emissions company by 2050, at the very latest. In order to be transparent on its progress, the company is now committing to the Science Based Targets initiative. Targets and roadmaps will be established during 2021.
Setting an even more sustainable course
To support the Volvo Group’s sustainability goals, Volvo Penta has announced that it is to redirect further resources into accelerating its sustainability development, which is about reaching zero emissions – through fossil-free, renewable fuels, electric, hybrid technology – while continuing to provide innovative solutions to the marine industry.
“Volvo Penta welcomes this increased focus across the Volvo Group. We will support these objectives by intensifying our ongoing efforts and resources towards continued development of sustainable solutions,” states President of Volvo Penta, Heléne Mellquist. “This focus includes advancements of innovative solutions such as our unique Volvo Penta IPS and sterndrive ranges.”
A better life on the waves
Another arena Volvo Penta continues to focus on is its Easy Boating philosophy and delivering a unique boating experience for today and tomorrow. The company will continue to transform the customer experience, both for today’s boater and a whole new generation to enjoy being on the water. This not only includes leveraging the benefits of sustainable technologies but also automation and connectivity to further enhance the unique Volvo Penta onboard experience.
New prioritization in the portfolio
As a result of this accelerated transformation journey, the company will put its outboard development on hold.
Therefore, Volvo Penta will stop the sales and marketing of Seven Marine engines (from January 1st, 2021) – as well as phasing out production once customer demand is met. The company will, however, continue to support the current outboard customer base by taking full warranty and parts responsibility for the products that are in the field.
“We want to send a clear message,” says Mellquist. “Volvo Penta does foresee that the outboard segment will continue to be relevant for the Marine Leisure market, but we believe that the indisputable need to drive advancements in sustainable technology must be our main focus. This is why, for the time being, the exploration of new technology together with the development of our core business, such as Volvo Penta IPS and sterndrives, will be the center of our efforts.”
For more information, please contact:
Brand, Communication and Marketing
AB Volvo Penta
Tel: int +46 (0) 31 323 30 55