Research and development expenses accounted for about five percent of Volvo Group's revenue in 2021. The Volvo Group incurred around 18 billion Swedish kronor (or just under 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 2021
(in million Swedish kronor)
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Volvo. (February 25, 2022). Volvo Group's research and development expenses from FY 2008 to FY 2021 (in million Swedish kronor) [Graph]. In Statista. Retrieved May 16, 2022, 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 2021 (in million Swedish kronor)." Chart. February 25, 2022. Statista. Accessed May 16, 2022. 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 2021 (in million Swedish kronor). Statista. Statista Inc.. Accessed: May 16, 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 2021 (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 2021 (in million Swedish kronor) Statista, https://www.statista.com/statistics/469263/research-and-development-expenses-of-volvo-group/ (last visited May 16, 2022)
