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Volvo gets green grant

Published Wednesday, July 02, 2008

The Volvo Group has received a three-year grant worth a total of $18 million from the U.S. Department of Energy (DoE) and the Swedish Energy Agency for the development of hybrid technologies and alternative fuels, the company announced. Both DoE and the Swedish Energy Agency will invest $9 million during the three years, in addition to the $18 million Volvo has already pledged towards research and development of green technologies. "The climate issue and increasing fuel prices make energy use and energy efficiency some of the most important societal issues of our time,” said Leif Johansson, CEO of ...

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