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Wednesday 21 August, 2002

Volvo AB

Volvo trucks unveils a new multi-million dollar in

Volvo TRUCKS UNVEILS A NEW MULTI-MILLION DOLLAR INVESTMENT IN THE usa

Volvo Trucks has today unveiled an entirely new truck range for the
North American market.
Volvo is the only manufacturer to have developed an all-new truck to
meet the tougher EPA 02 demands that come into force in the USA on 1
October.
The project has been three years in the development, with the total
investment amounting to 1.8 billion Swedish kronor (190 MUSD).

The new Volvo VN shares its platform with the new Volvo FH and Volvo FM
models that were launched in autumn 2001.

"By utilizing our global platform, we have developed a holistic solution
in which we were able to optimise each and every component to meet the
ambitious new emissions requirements - while continuing to maintain the
excellent transport economy that haulage operators have come to expect,"
says Jorma Halonen, President of Volvo Trucks.

Entirely new truck
While the rest of the industry has focused on developing cleaner new
engines for installation in existing truck models, Volvo has instead
concentrated on developing all the various components in parallel, thus
producing an entirely new truck generation that offers operators
extremely competitive productivity and enviable total economy.

Weight savings of up to 680 kg further increase the truck's available
payload by a corresponding amount. At the same time, driver comfort has
been given a significant boost with the introduction of the new
range.The entire development process has been based on the haulage
operator's actual working conditions and needs. Nonetheless, the US
transport industry is concerned that the industry's new EPA02-compliant
engines will lead to higher running costs, for instance in the form of
increased fuel consumption and poorer reliability.

"Against this background, we feel we chose the right path by presenting
an all-new truck optimised in every way for the new operating
conditions. The potential pitfalls have been able to be identified and
dealt with already at source. Our concept thus puts us into an immensely
strong competitive position," explains Jorma Halonen.

New test facility
In order to maintain its strong position among the world's truck
manufacturers, Volvo recently completed the building of a new engine
laboratory at the company's global headquarters in Göteborg, Sweden.
Here there are resources and expertise for developing diesel engines
that meet forthcoming environmental legislation in both the EU and the
USA.

The new truck shares much of its characteristic appearance with the
previous version of the Volvo VN, but that is where the similarities
end. More than 1,000 components have been redesigned for the new model.

August 21, 2002

For further information, please contact:
Claes Claeson, media relations, Volvo Truck Corporation,
tel +46 31 - 66 39 08 or +46 0708 - 36 39 08.
E-mail: [email protected]

Footnote.
Pictures of the new Volvo VN can be downloaded from our website at
www.volvo.com/trucks


                                                                                                                                                                                                                          

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