Company Directory - AB Volvo
Company Details - AB Volvo
AB Volvo
WebsiteGothenburg, Sweden
ISIN: SE0000108656
AB Volvo is a Swedish multinational manufacturing company that produces trucks, buses, construction equipment, and marine and industrial engines. Renowned for its quality engineering and innovation in commercial vehicles, the company operates globally and is closely associated with sustainable and safe transport solutions.
CCI Score
CCI Score: AB Volvo
0.15
-0.01%
Latest Event
AB Volvo Heavy Truck Plant Threatened with Relocation
An interview transcript of UAW President Shawn Fain on CBS News highlighted that AB Volvo's heavy truck plant is threatened with relocation to Mexico. This move is portrayed as part of a broader trend by automotive companies to shift production abroad, risking domestic jobs and undermining union protections and living wage standards.
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OBJECTOR
AB Volvo is currently rated as an Objector.
Latest Events
- MAR302025
An interview transcript of UAW President Shawn Fain on CBS News highlighted that AB Volvo's heavy truck plant is threatened with relocation to Mexico. This move is portrayed as part of a broader trend by automotive companies to shift production abroad, risking domestic jobs and undermining union protections and living wage standards.
- JAN012024
OpenSecrets profile data indicates that AB Volvo made $149,598 in political contributions and spent $800,000 on lobbying during the 2024 cycle. The profile also notes that 5 out of 7 of its lobbyists in both 2023 and 2024 have prior government experience, highlighting a revolving door dynamic that raises concerns about undue corporate influence in policymaking.
-70
Political Contributions and Lobbying Efforts
March 30
The significant spending on lobbying ($800,000) along with political contributions ($149,598) suggests AB Volvo is actively engaging in political financing that may translate into disproportionate influence over policy decisions. This level of corporate political activity can undermine democratic accountability and contribute to authoritarian outcomes.
-60
Executive Political Engagement
March 30
The revelation that a majority of AB Volvo's lobbyists have prior government experience indicates a revolving door scenario which may compromise regulatory integrity and foster conditions for preferential treatment, further entrenching corporate power in the political arena.
- DEC312023
AB Volvo spent $1,070,000 on lobbying activities in 2023, as reported by OpenSecrets, indicating its active engagement in influencing political decision‐making in the automotive sector.
-80
Political Contributions and Lobbying Efforts
March 30
AB Volvo's expenditure of $1,070,000 on lobbying during 2023 illustrates a significant effort to sway policymaking in favor of industry interests. From an anti-fascist perspective, such corporate political influence raises concerns about the potential to prioritize profit over democratic accountability and community well-being.
- DEC312023
OpenSecrets data indicates that AB Volvo spent $1,070,000 on lobbying in 2023, reflecting an active effort to influence U.S. policy-making processes.
-40
Political Contributions and Lobbying Efforts
March 30
AB Volvo's lobbying spend of $1,070,000 in 2023 demonstrates a significant allocation of resources toward influencing political decisions. Such activity is viewed critically from an anti-fascist perspective, as it underscores corporate efforts to shape policies in favor of elite interests rather than democratic accountability.
- NOV152023
Mack Trucks, a subsidiary of Volvo Group, ratified a new five-year collective bargaining agreement with the United Auto Workers union covering approximately 3,900 employees. The agreement promises significant wage growth and enhanced benefits, marking a positive development in worker rights.
+80
Labor Relations and Human Rights Practices
March 30
The ratification of this agreement is a strong affirmation of labor rights. By securing wage growth and robust benefits through collective bargaining, Mack Trucks under the Volvo Group demonstrates a commitment to worker well-being. This move supports marginalized workers and bolsters anti-authoritarian labor practices, countering corporate pressures that may otherwise undermine unions and fair labor practices.
- OCT262023
Mack Trucks, under the Volvo Group, announced a tentative agreement with UAW negotiators that includes significant wage increases over five years and immediate raises for covered employees, marking a notable step in enhancing labor conditions.
+70
Labor Relations and Human Rights Practices
March 30
The tentative agreement reached in the UAW negotiations secures substantial wage increases (up to 55% over five years for many employees) and improved immediate wage bumps for a significant portion of the workforce. This outcome reinforces fair labor practices and worker rights, representing a positive and progressive step in labor relations.
- OCT182023
Volvo Group issued a statement clarifying that while its vehicles and machinery play a role in global infrastructure and development, the company refrains from taking positions in international conflicts. It emphasized compliance with political decisions, such as UN recommendations, and stated that it does not cooperate directly with either Palestinian or Israeli authorities, distancing itself from the alleged human rights abuses in Israel and Occupied Territories.
-10
Executive Political Engagement
October 18
The company's refusal to take a clear political stance—opting instead to defer to governmental decisions and remain neutral—demonstrates a reluctance to address the underlying human rights issues. This non-engagement in executive political actions can be seen as a lack of proactive responsibility in conflict situations.
Volvo Group response re alleged complicity in human rights abuses in Israel & Occupied Territories
-15
Labor Relations and Human Rights Practices
October 18
By distancing itself from direct involvement—declaring no cooperation with either Palestinian or Israeli authorities—Volvo Group effectively sidesteps accountability for potential misuse of its equipment in contexts where human rights abuses are alleged. This avoidance raises concerns regarding its ethical responsibility in upholding labor relations and human rights practices.
Volvo Group response re alleged complicity in human rights abuses in Israel & Occupied Territories
- OCT092023
Union workers at Mack Trucks, a subsidiary of AB Volvo, launched a strike on October 9, 2023 after rejecting a proposed five-year labor contract. This action underscores a demand for improved labor conditions and fair treatment of workers.
+80
Labor Relations and Human Rights Practices
March 30
The initiation of a strike by union workers at Mack Trucks demonstrates a strong commitment to labor rights and fair working conditions. This pro-worker action challenges potentially exploitative labor contracts and aligns with anti-authoritarian values that support worker empowerment and protection of marginalized communities.
Workers of AB Volvo Subsidiary Launch Strike After Rejecting Labor Contract
- OCT022023
AB Volvo’s Mack Trucks unit signed an agreement with UAW members to secure increased wages and enhanced employee benefits, marking a positive move for labor relations.
+80
Labor Relations and Human Rights Practices
March 30
The agreement between AB Volvo's truck manufacturing unit (Mack Trucks) and UAW members to raise wages and improve benefits represents a significant positive step for labor rights and worker well-being. This action supports fair labor practices and worker empowerment, aligning with anti-fascist and progressive labor values by directly benefiting employees.
AB Volvo's Truck Manufacturing Unit Signs Agreement with UAW Members for Wage Hikes, Benefits
- OCT012023
An investigation by the Business & Human Rights Resource Centre reveals that equipment manufactured by Volvo Construction Equipment, a division of AB Volvo, has been used by Israeli forces to demolish Palestinian homes in the West Bank. This development raises serious concerns about the company’s supply chain ethics and adherence to its own Code of Conduct regarding internationally proclaimed human rights.
-80
Supply Chain Ethics
March 30
The article documents the use of Volvo Construction Equipment in actions that demolish Palestinian homes in the West Bank. This not only raises concerns about the company’s oversight of its supply chain, but also indicates a failure to enforce its own Code of Conduct on human rights, contributing to broader ethical and business responsibility issues.
- SEP182023
AB Volvo has disputed findings by Sheffield Hallam University that at least six of its suppliers are linked to forced labor practices. The dispute, highlighted in a Washington Post investigation, raises concerns over the company’s oversight and transparency in its complex supply chain amid broader industry scrutiny of labor practices.
-60
Supply Chain Ethics
March 30
Despite disputing the findings, AB Volvo's response does little to allay concerns over potential forced labor within its supplier network. The allegation reflects systemic challenges in ensuring ethical supply chains in the EV sector, where forced labor remains a critical human rights issue. This raises significant questions about transparency and accountability in the company’s business practices.
Tesla and EV supply chains raise concerns about forced labor in China - Washington Post
- JAN012023
The Volvo Group has articulated its approach to human rights by outlining a robust Supplier Code of Conduct. The policy emphasizes collaboration with supply partners, detailing minimum human rights requirements and aspirational practices, contributing to sustainable and resilient business practices.
+70
Labor Relations and Human Rights Practices
March 30
The company’s clear articulation of human rights standards and emphasis on fair treatment in its supplier relationships demonstrates a positive commitment to labor relations and human rights practices, aligning with a progressive, anti-authoritarian approach.
+70
Supply Chain Ethics
March 30
By establishing and maintaining a Supplier Code of Conduct that mandates minimum human rights standards among its partners, Volvo demonstrates strong supply chain ethics. This initiative helps mitigate risks associated with human rights abuses and supports marginalized groups within their supply network.
- NOV012021
Volvo Group has partnered with Upstream Security via its DRIVE innovation hub to improve cybersecurity for its connected vehicles. The collaboration aims to protect over one million customer-connected assets by mitigating cyber threats, enhancing overall vehicle safety.
+70
Technology and Services Impact
March 30
The collaboration between Volvo and Upstream Security demonstrates a proactive approach to addressing cybersecurity risks in connected vehicles. By investing in advanced cybersecurity solutions through its innovation hub DRIVE, Volvo is taking a positive step to protect its customers and improve safety standards in a critical technology space. This initiative aligns with progressive, anti-authoritarian values by safeguarding users against potential cyber threats.
Volvo and Upstream Security collaborate for safer connected vehicles
- JUN072021
Volvo's UAW-represented employees resumed a strike at the company's Virginia operations on June 7, 2021, after rejecting a six-year labor agreement. The company expressed that the union's decision was 'difficult to understand', highlighting a contentious labor negotiation process.
-40
Labor Relations and Human Rights Practices
March 30
The resumption of the strike underscores ongoing labor disputes and a lack of satisfactory measures to address worker demands. Volvo's dismissive stance—describing the union's rejection as 'difficult to understand'—casts the company's labor practices in a negative light from a human rights perspective, as it appears to downplay critical worker concerns.
AB Volvo: Strike resumes at Volvo's Virginia operations after UAW rejects labor deal
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