Volvo doesn’t like gliders. But how clean are Volvo’s trucks? Reuters is reporting that Volvo will take an almost $800M emissions hit!
(Reuters) – Sweden’s Volvo is setting aside 7 billion Swedish crowns ($778 million) to cover costs related to its admission in October that its truck and bus engines could be exceeding limits for nitrogen oxide emissions.
Causing Confusion: Volvo is reportedly taking a $778M charge for emission control failures, but Volvo CEO said emissions probe going well when speaking to Bloomberg in October. What happened?
Volvo AB Chief Executive Officer Martin Lundstedt talks about demand for trucks and the progress of a faulty components probe after the world’s second-largest truckmaker uncovered faulty parts in its emission-control setups. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)