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Volvo vows to charge subscriptions only for major updates

Volvo Cars Chief Operating Officer Bjorn Annwall   BMW veered into a public-relations mess this year when it started charging car owners monthly subscription fees to warm their behinds. Volvo Car won’t be making similar moves. “If you are to charge for software updates, it must be a step change in consumer benefit,” VolvoÂ’s Chief Operating Officer Bjorn Annwall said in an interview this month. “We will not ask people who have bought a car for 1 million kronor ($96,500) to pay another 10 kronor to get extra heat in the seat.” While BMW will no doubt have other manufacturers follow in its footsteps — Mercedes-Benz recently started asking buyers of its EQ electric vehicles to fork over $1,200 a year to unlock quicker acceleration, for example — the auto world has started to second-guess just how much money there is to be made from the rise of software within their hardware-intensive business. In a 91-page deep dive into the topic last month, analysts at UBS pegged the total addressable market at $700 billion by 2030. ThatÂ’s no pittance, but pales in comparison to the $2 trillion opportunity they anticipated previously. Annwall sees Volvo generating little additional revenue from software until mid-decade. Only if major upgrades become available — a self-driving mode, for example — would Volvo charge extra. “You donÂ’t have to hold the steering wheel — now thatÂ’s a step change in user benefit.” Annwall was speaking at the opening of VolvoÂ’s new tech hub in Stockholm, where the manufacturer builds software for selling and marketing cars online. The company, which last month unveiled a battery-powered sport utility vehicle to succeed its gasoline-era flagship, intends to cease making combustion cars by the end of the decade. ItÂ’s going to be an uphill push: EVs made up just under a fifth of the companyÂ’s shipments last month. Bloomberg spoke with Annwall about VolvoÂ’s tech efforts, the software issues that have plagued some of its competitors and the ongoing supply-chain issues holding back the industry. Here are highlights from the conversation, which have been edited for length and clarity: Large automakers including Volkswagen have had problems with their car software. Have you experienced similar obstacles? I wonÂ’t hide the fact that we have had some problems with our software in the car as well. But weÂ’ve been good at correcting them fairly quickly.

How Volvo is going greener, according to sustainability chief Henrik Green

STOCKHOLM — This week, Volvo unveiled its new flagship electric vehicle, the EX90 three-row SUV. ItÂ’s not just a look at a product weÂ’ll see come to market in 2024, but a glimpse at the approach Volvo is taking to become more sustainable as it aims to go all-electric by 2030 and carbon-neutral by 2040. After the unveiling of the EX90, we had the opportunity to speak with Henrik Green, VolvoÂ’s advanced technology and sustainability officer, as part of a roundtable discussion about the brandÂ’s climate strategy moving forward. Part of the strategy is accountability and transparency. In an industry where sensitive materials like cobalt and lithium can be environmentally, socially and geopolitically problematic, traceability is paramount. Volvo will use blockchain technology — the same sort of secure ledger tech that makes cryptocurrency possible — to trace cobalt, lithium and nickel from their very origins in the earth all the way to the EX90s that roll off the factory floor. Green said he expects that traceability to expand to more materials, but those three are what Volvo can commit to today. Green also predicts a time when “you as a consumer should be able to see, ‘Here, in my app, this is the car I bought, this is where my nickel came from thatÂ’s in my car.’” While step one is improving transparency, “the next step is — this is much more long-term — how can we affect the industry to source from the most sustainable sources as possible?” And that leads us to recycling. A circular economy is the goal, where raw materials are used minimally, replaced by materials sourced from old cars, batteries, electronics and the like. But that depends on the first generations of electric cars fulfilling their lifecycles before they can be recycled. And obviously the better the longevity of products like batteries, the longer this will take. “Unfortunately, it has this built-in time lag of putting batteries out there that live until they need to be replaced, and then we will get the material back.” Partners are beginning to scout for those recyclable materials from sources like non-automotive electronics, “but the massive volume of car batteries will not be accessible until these cars have been on the road 10, 15 or more years.” But recyclability is one of the main factors Volvo looks for when partnering with companies like Northvolt, with whom Volvo is building a factory and R&D center in Gothenburg, Sweden.

Tony Nicolosi confirmed as Volvo's North American CEO

This past October, John Maloney stepped down from his post as CEO at Volvo Cars North America. In his place, the Swedish automaker tentatively promoted Tony Nicolosi, who had until then served as head of Volvo Car Financial Services. The appointment was reportedly temporary, giving Nicolosi the title of acting CEO. But according to Automotive News, his position has now been confirmed for the long run.
Although Volvo has yet to announce a new director for its financial arm, Nicolosi says they have found the right person and will announce sometime between now and the National Automobile Dealers Association convention, set to take place later this month in New Orleans.
Last month, Volvo also announced that its global communications chief Bodil Eriksson is moving from the home office in Gothenburg to the North American office in Rockleigh, New Jersey. Anders Kärrberg has been promoted from the government affairs post to take Eriksson's place.