Volvo receives hybrid technology grant

The United States Department of Energy and the Swedish Energy Agency have jointly awarded an $18 million, three-year grant to the Volvo Group for the development of hybrid technology and drivelines for alternative fuels. This extends the one-year research and cooperation agreement signed between the Volvo Group and the Swedish and U.S. governments in June 2007.

The cooperation is aimed at reducing heavy vehicles' use of fossil fuels through research and development projects in the areas of energy efficiency, drivelines for alternative fuels, and hybrid solutions.

“The climate issue and increasing fuel prices make energy use and energy efficiency some of the most important societal issues of our time,” says Leif Johansson, chief executive officer of the Volvo Group.

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