Research and development expenses accounted for about five percent of Volvo Group's revenue in 2023. The Volvo Group incurred more than 26 billion Swedish kronor (or over two billion U.S. dollars) in R&D costs. Much of the company's R&D efforts are targeted at the field of clean transportation.
Volvo Group's research and development expenses from FY 2008 to FY 2023
(in million Swedish kronor)
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Volvo. (February 29, 2024). Volvo Group's research and development expenses from FY 2008 to FY 2023 (in million Swedish kronor) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/469263/research-and-development-expenses-of-volvo-group/
Volvo. "Volvo Group's research and development expenses from FY 2008 to FY 2023 (in million Swedish kronor)." Chart. February 29, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/469263/research-and-development-expenses-of-volvo-group/
Volvo. (2024). Volvo Group's research and development expenses from FY 2008 to FY 2023 (in million Swedish kronor). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/469263/research-and-development-expenses-of-volvo-group/
Volvo. "Volvo Group's Research and Development Expenses from Fy 2008 to Fy 2023 (in Million Swedish Kronor)." Statista, Statista Inc., 29 Feb 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/469263/research-and-development-expenses-of-volvo-group/
Volvo, Volvo Group's research and development expenses from FY 2008 to FY 2023 (in million Swedish kronor) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/469263/research-and-development-expenses-of-volvo-group/ (last visited November 10, 2024)
Volvo Group's research and development expenses from FY 2008 to FY 2023 (in million Swedish kronor) [Graph], Volvo, February 29, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/469263/research-and-development-expenses-of-volvo-group/
