Research and development expenses accounted for about five percent of Volvo Group's revenue in 2022. The Volvo Group incurred around 22 billion Swedish kronor (or just 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 2022
(in million Swedish kronor)
Characteristic
R&D expenses in million Swedish kronor
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Volvo. (February 25, 2022). Volvo Group's research and development expenses from FY 2008 to FY 2022 (in million Swedish kronor) [Graph]. In Statista. Retrieved June 18, 2024, from https://www.statista.com/statistics/469263/research-and-development-expenses-of-volvo-group/
Volvo. "Volvo Group's research and development expenses from FY 2008 to FY 2022 (in million Swedish kronor)." Chart. February 25, 2022. Statista. Accessed June 18, 2024. https://www.statista.com/statistics/469263/research-and-development-expenses-of-volvo-group/
Volvo. (2022). Volvo Group's research and development expenses from FY 2008 to FY 2022 (in million Swedish kronor). Statista. Statista Inc.. Accessed: June 18, 2024. https://www.statista.com/statistics/469263/research-and-development-expenses-of-volvo-group/
Volvo. "Volvo Group's Research and Development Expenses from Fy 2008 to Fy 2022 (in Million Swedish Kronor)." Statista, Statista Inc., 25 Feb 2022, https://www.statista.com/statistics/469263/research-and-development-expenses-of-volvo-group/
Volvo, Volvo Group's research and development expenses from FY 2008 to FY 2022 (in million Swedish kronor) Statista, https://www.statista.com/statistics/469263/research-and-development-expenses-of-volvo-group/ (last visited June 18, 2024)
Volvo Group's research and development expenses from FY 2008 to FY 2022 (in million Swedish kronor) [Graph], Volvo, February 25, 2022. [Online]. Available: https://www.statista.com/statistics/469263/research-and-development-expenses-of-volvo-group/