Connect with us

Technology

Per Scholas Expands Tech Training to Buffalo

Published

2 years ago

on

The launch of the new Buffalo campus represents a pivotal moment in the efforts to bridge the digital skills gap and foster economic growth in the community;
Per Scholas Buffalo is now accepting applications for IT Support course

BUFFALO, N.Y., Aug. 27, 2024 /PRNewswire/ — Per Scholas, a national nonprofit dedicated to advancing economic mobility through rigorous and no-cost technology training, is thrilled to announce the launch of its new campus in Buffalo, New York. This expansion aims to provide residents with the skills and opportunities needed to thrive in the rapidly growing IT sector. Per Scholas will equip individuals with the expertise required to secure high-paying, sustainable careers in the rapidly growing technology industry in Buffalo. Per Scholas Buffalo will serve as a hub for innovative learning and career advancement from its newest campus located in historic Larkinville.  Per Scholas’ tuition-free tech training is now available to local residents thanks to support from Empire State Development via a $1 million New York State Office of Strategic Workforce Pay for Performance (P4P) operating grant, the Ralph C. Wilson, Jr. Foundation, Amazon, the NFL Foundation, and Highmark Blue Cross Blue Shield.

Applications are now open for Buffalo residents looking to access technology careers and potentially triple their salaries through Per Scholas’ proven model. The inaugural 13-week, full-time IT Support course cohort, which will begin mid-October, combines technical skills and business professional development, leading to industry-recognized credentials like CompTIA A+ and Google IT Support certifications.

Providing pathways for alumni with diverse backgrounds for successful careers in tech, this rigorous IT Support course equips aspiring technologists with the knowledge and skills for a wide range of entry-level tech careers across Per Scholas’ network of employer partners ranging from Fortune 500 companies to innovative startups. As the third Per Scholas campus to open in New York, the proven model continues to unlock potential for individuals, communities, and companies throughout the state. In fact, every dollar invested in Per Scholas has resulted in an $8 net economic return.

“Per Scholas is thrilled to expand into Buffalo, a community full of promise and untapped potential,” said Per Scholas President & CEO Plinio Ayala. “We’re honored to have received such a warm welcome and a rallying of support from tremendous organizations, and humbled by the collaboration with local experts to serve both businesses and neighborhoods seeking opportunities for professional growth. Our goal is to make a meaningful impact on the lives of future technologists and the community at large.”

“New York State is committed to advancing the Buffalo communities that have faced historical economic disinvestment, and Per Scholas’ training programs provide one way to do so,” said Empire State Development President, CEO & Commissioner Hope Knight. “Made possible in part through a grant from the New York State Office of Strategic Workforce Development, Per Scholas Buffalo’s landmark campus is the first campus in New York State outside the New York City metropolitan area. It provides immediate opportunities for access to thriving tech careers, strengthening the community in a tangible way, and will create a brighter future for all.”

“For Buffalo to continue its path toward becoming a leader in tech, it needs to invest in developing the workforce of tomorrow,” Congressmember Tim Kennedy said. “Efforts like that of Per Scholas are providing the resources, training, and network necessary to expand our tech workforce in the Western New York region. With an emphasis on equity, Per Scholas programming will allow more people to find rewarding work in innovative new fields right here in Buffalo.”

Assembly member Jon D. Rivera said, “The launch of Per Scholas’ new Buffalo campus represents a pivotal milestone for Buffalo’s growing tech sector and a boon to our region’s economy. Coupled with the research and innovation soon to be produced by Governor Hochul’s Empire AI initiative, the new Per Scholas campus in Buffalo’s Larkin district will equip local workers with the experience they need in cybersecurity and software engineering to secure great technology careers in Buffalo. We are currently seeing a rapid growth in AI-technology and related fields; we need to ensure that no part of the labor force is left behind. By championing future-proof skills and talent, we can equip our workforce with the tools and knowledge needed to thrive in an AI-driven economy.”

“Per Scholas has developed an exceptionally successful model for career development that we are excited to support. The program is opening up new opportunities for people who are passionate about entering the burgeoning tech field across Western New York,” said Amber Slichta, Vice President of Programs and Learning at the Ralph C. Wilson, Jr. Foundation. “The skills gained through Per Scholas have the potential to fuel a lifetime career of good-paying jobs. By matching newly skilled individuals with employer needs, we’re making a difference in the region.”

“Upskilling and workforce development is a priority throughout the nation, and even more so recently here in the Buffalo community,” said Carley Graham Garcia, Head of Community Affairs for Amazon in New York. “Amazon is proud to partner with Per Scholas, who is empowering individuals eager to launch a thriving career. By expanding skills training opportunities in Buffalo, this initiative will help more of our community tap into steady careers attached to life-changing compensation. At the same time, we’ll build and upskill a talent pipeline that brings even greater economic investment to Western New York.”

“The NFL’s Inspire Change social justice initiative is proud to support the launch of Per Scholas’ Buffalo campus as they continue to break barriers and create positive change, especially for people of color in Buffalo,” said NFL Vice President, Social Responsibility Clare Graff. “With Per Scholas, these individuals are empowered to enter the tech industry and launch thriving careers, aligning with our mission of advancing economic opportunities for underserved populations.”

“Per Scholas’ expansion into the Buffalo community is exciting and transformative,” noted Howard Zemsky of Larkin Development. “The work that Per Scholas will do in the Larkin District will transform the lives of the Buffalo community and local companies, and I look forward to the economic growth their alumni will bring to this community.”

“Workforce development is a key strategy to build the regional economy by connecting people and jobs, and fulfilling the needs of employers seeking talent. Per Scholas’ new Buffalo Campus will be a critical partner in growing Western New York’s tech training opportunities, strengthening our region’s workforce to meet the needs of job seekers and creating a reliable talent pipeline for industry,” said Laura Quebral, CEO, Center for Regional Strategies, an intermediary partner with the Western New York Manufacturing and Tech Coalition.

“I am thrilled to welcome Per Scholas to Buffalo. Their proven track record in training and developing a diverse tech workforce will benefit our community, where there is a strong demand for skilled tech professionals,” said Stephen Tucker, Executive Director of the Western New York Manufacturing & Tech Workforce Coalition. “Per Scholas is well-equipped to meet this demand by providing high-quality training and job attainment support that will drive economic growth and innovation in our region.”

“A healthy community thrives on a strong and diverse workforce landscape and Per Scholas is playing a vital role in building that foundation,” said Michael Ball, Vice President of Highmark Blue Cross Blue Shield. “By equipping individuals with the skills and opportunities they need to succeed in high-demand tech fields, Per Scholas is not only empowering individuals but also strengthening our local economy. As a community-based health plan, Highmark Blue Cross Blue Shield is proud to support their mission, as we share a commitment to improving the health and well-being of our communities.”

To learn more about Per Scholas Buffalo, follow them on LinkedIn and Facebook, or visit their page.

About Per Scholas

For nearly 30 years, Per Scholas has been on a mission to drive equity and opportunity in the ever-advancing technology landscape by unlocking the untapped potential of individuals, uplifting communities, and meeting the needs of employers through rigorous tech training. By teaming up with dynamic employer partners, ranging from Fortune 500 companies to innovative startups, we’re forging inclusive tech talent pipelines, fulfilling an ever-increasing need for skilled talent. With national remote training and campuses in 20+ cities and counting, Per Scholas offers no-cost training programs in the most sought-after tech skills, spanning Cloud, Cybersecurity, Data Engineering, IT Support, Software Engineering, and more. To date, 25,000+ individuals have been trained through Per Scholas, propelling their professional trajectories into high-growth tech careers with salaries three times higher than their pre-training earnings. At Per Scholas, diversity, equity, inclusion, and belonging aren’t just buzzwords—they’re in our DNA. 85+ percent of our learners are people of color, two in five are women, and more than half hold a high school diploma as their highest educational credential. Learn more by visiting PerScholas.org and follow us on LinkedIn, X/Twitter, Facebook, Instagram, and YouTube.

About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the Regional Economic Development Councils and the marketing of “I LOVE NY,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit regionalcouncils.ny.gov and esd.ny.gov.

About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

About The NFL Foundation
Inspire Change is a year-round initiative that highlights the impactful social justice work done by NFL players, clubs, the league office, and grant partners to break down barriers to opportunity and end systemic racism. Since 2017, the NFL Family has provided $300 million to more than 40 national grant partners and more than 600 grassroots organizations to advance social justice causes in the areas of education, economic advancement, police-community relations, and criminal justice reform. To date, the NFL Foundation has provided more than 1,800 Inspire Change matching grants to current NFL players and Legends for nonprofits of their choice to help reduce barriers to opportunity. To learn more about the NFL’s Inspire Change initiative and to view the 2023 Social Justice Impact Report, visit www.nfl.com/inspirechange. Follow @InspireChange on Twitter and Instagram. On Facebook, follow www.facebook.com/inspirechange.

About Highmark Blue Cross Blue Shield

Highmark Blue Cross Blue Shield is a trade name of Highmark Western and Northeastern New York Inc., an independent licensee of the Blue Cross Blue Shield Association. Since 1936, Highmark Blue Cross Blue Shield has helped millions of people lead healthier lives. Highmark Blue Cross Blue Shield offers a full range of insured, self-insured, and government programs and services covering businesses, families, and individuals, as well as dental and vision plans and stop-loss coverage. Highmark Blue Cross Blue Shield employs more than 1,400 people and serves as a key economic driver in the region. As a community-based, not-for-profit health plan, Highmark Blue Cross Blue Shield contributes significantly to organizations that strengthen and enrich the health of the community, including investments of more than $8 million in 2023.

View original content to download multimedia:https://www.prnewswire.com/news-releases/per-scholas-expands-tech-training-to-buffalo-302230963.html

SOURCE Per Scholas

Related Topics:
Continue Reading

Technology

Securitas AB Interim Report Q3 2026 | January-September

Published

1 second ago

on

October 23, 2026

By

STOCKHOLM, Oct. 23, 2026 /PRNewswire/ — 

July–September 2026

Total sales MSEK 38 566 (38 521)Organic sales growth 0 percent (3)Adjusted organic sales growth, 3 percent (4)*Real sales growth within technology and solutions 6 percent (4)Operating income before amortization MSEK 3 161 (3 107)Operating margin 8.2 percent (8.1)Adjusted operating margin, 8.2 percent (8.3)*Items affecting comparability (IAC) MSEK –36 (–1 527) Earnings per share, SEK 3.68 (1.09)Earnings per share before IAC, SEK 3.28 (3.34)Cash flow from operating activities 82 percent (106)

January–September 2026

Total sales MSEK 112 620 (116 691)Organic sales growth 0 percent (4)Adjusted organic sales growth, 3 ­percent (4)*Real sales growth within technology and solutions 5 percent (5)Operating income before ­amortization MSEK 8 444 (8 430)Operating margin 7.5 percent (7.2)Adjusted operating margin, 7.6 ­percent (7.5)*Items affecting comparability (IAC) MSEK 102 (–1 770) whereof MSEK 223 (–5) related to divestitures Earnings per share, SEK 9.36 (5.95)Earnings per share before IAC, SEK 8.69 (8.48)Cash flow from operating activities 71 ­percent (74)Net debt/EBITDA ratio 2.1 (2.2) 

*A new key ratio, operating margin adjusted for the government business within SCIS in the process of being closed down, was added as of the second quarter 2025. A new key ratio, organic sales growth adjusted for the same business, was added as of the third quarter 2025. Refer to note 5 for further information.

Comments from the President and CEO

“Solid performance supported by technology momentum”

Organic sales growth in the third quarter was 3 percent, adjusted for the close-down of the SCIS govern­ment business. The Technology and Guarding business units in North America delivered solid growth, while lower activity in the airport business weighed on organic sales growth in Europe. 

Real sales growth in technology and solutions was 6 percent in the third quarter. The commercial momentum in our global technology business remained healthy, as installation order intake and backlog continued to grow, with record-high installation order intake in North America and Ibero-America. The share of technology and solutions increased to 35 percent (33), reflecting the execution of our strategic direction. This devel­op­ment is supported by our differ­enti­ated technology-led offering, and we continue to expand the commercialization of the capabilities we have built across the Group. 

Our security services offering continues to be well received in client segments such as data centers, defense and pharmaceuticals, where long-term partnerships and high-quality security services offerings are increasingly valued. In certain markets and client segments, however, demand trends remain somewhat cautious, resulting in more selective purchasing behavior and longer decision cycles. We are managing this dynamic effectively in North America, while market conditions in certain countries in Europe and Ibero-America remain more frag­mented, which impacted topline growth in the third quarter.

The adjusted operating margin in the third quarter was 8.2 percent (8.3), supported by continued good performance in North America. Operating margins in Europe and Ibero-America were below the strong levels achieved in the third quarter of last year. This was primarily due to the airport security business in Europe which had an impact in the third quarter of –0.2 percent on Group adjusted operating margin. Operating income was in line with last year. For the first nine months of the year, earnings per share increased by 6 percent.

Cash generation remained good, corresponding to 82 percent (106) of operating income in the quarter, and 71 percent (74) for the first nine months of the year. We remain well positioned to achieve our full-year cash flow target of 80–90 percent of operating income before amortization. The net debt to EBITDA ratio was 2.1 (2.2).

THE TRUSTED PARTNER IN INTELLIGENCE-LED SECURITY

Since launching our strategy this summer, I have met with clients across three continents. The response has been very positive, with both existing and prospective clients recognizing the value of our ambition to become the trusted partner in intelligence-led security. They see compelling value in our emphasis on quality and in a more dynamic, intelligence-led approach that combines high-quality security services with technology, data, analytics and Security Risk Management capabilities. While this represents a shift from established industry practices, there is strong support for the direction. Clients increasingly recognize Securitas’ ability to leverage AI, automa­tion and actionable risk intelligence to deliver greater value, and we are already beginning to see early signs of a shift in buying behavior towards intelligence-led security.

As part of the final stage of our strategic assessment program, we expect to have exited the last remaining contracts within the SCIS govern­ment business by the end of October. 

CREATING LONG-TERM SHAREHOLDER VALUE

In conjunction with the launch of our 2030 strategy, we updated the Group’s financial targets, including our target to deliver average annual earnings per share growth of 10 percent over a business cycle. With a clear focus on quality, innovation, and disciplined execution, we are accelerating our transformation and remain confi­dent in our ability to deliver sustain­able earnings growth and create long-term shareholder value.

Magnus Ahlqvist
President and CEO

PRESENTATION OF THE INTERIM REPORT

Analysts and media are invited to participate in a telephone ­conference on October 23, 2026, at 9.30 a.m. (CEST) where President and CEO Magnus Ahlqvist and CFO Matteo Dall’Ora will present the report and answer questions. The ­telephone conference will also be audio cast live via Securitas’ website www.securitas.com 

To follow the audio cast of the telephone conference via the web, please follow the link
www.securitas.com/en/investors/financial-reports-and-presentations/ 

A recorded version of the audio cast will be available at www.securitas.com/en/investors/financial-reports-and-presentations/ after the ­telephone conference.

For further information, please contact: Micaela Sjökvist, Vice President, Investor Relations +46 76 116 7443

ABOUT SECURITAS

Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, ­combined with an innovative, holistic approach, we’re transforming the security ­industry. With approximately 322 000 employees in 44 markets, we see a ­different world and ­create sustainable value for our clients by protecting what matters most – their people and assets.

Group financial targets

Securitas has the following financial targets:

Average annual earnings per share growth of 10 percent over a business cycle, excluding items affecting comparability and adjusted for changes in exchange rates, with a >10 percent operating margin ambition long-termOperating cash flow of 80–90 percent of operating income before amortizationNet debt to EBITDA below 2.5xDividend policy of 50–60 percent of annual net income over a business cycle, with excess capital returned to shareholders once stra-tegic growth priorities are met

Securitas AB (publ.)
P.O. Box 12307, SE-102 28 Stockholm, Sweden

Visiting address:
Lindhagensplan 70
Telephone: +46 10 470 30 00
Corporate registration number: 556302-7241
www.securitas.com 

This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above, at 8.00 a.m. (CEST) on Friday, October 23, 2026.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/securitas/r/securitas-ab-interim-report-q3-2026—january-september,c4414086

The following files are available for download:

 

View original content:https://www.prnewswire.co.uk/news-releases/securitas-ab-interim-report-q3-2026–januaryseptember-302917859.html

Continue Reading

Technology

One Step Further on the Global Stage | 3Srobotics Makes Its North American Debut at FABTECH US 2026

Published

4 seconds ago

on

October 23, 2026

By

LAS VEGAS, Oct. 23, 2026 /PRNewswire/ — In less than a year, the company has completed three funding rounds, with its latest raising tens of millions of US dollars. The continued investor interest reflects the rapid global expansion of a Chinese intelligent welding robotics company.

FABTECH 2026 opened on October 21 at the Las Vegas Convention Center, bringing together global leaders in metal fabrication, welding, and manufacturing automation.

At Booth S39072, South Hall, Level 2, 3Srobotics made its overseas debut, showcasing its self-developed Physical AI technology and embodied intelligent welding solutions, marking a key step in its global expansion.

As a leading North American event for metal fabrication and welding, FABTECH showcases advanced technologies, innovative products, and industry resources. It provides a platform for companies to demonstrate capabilities, understand market needs, and expand international partnerships. For 3Srobotics, this debut marks more than its first overseas exhibition.

As manufacturing demands greater flexibility and automation, traditional robots relying on manual teaching and fixed programs struggle with complex, small-batch production in shipbuilding, steel structures, and heavy equipment. 3Srobotics focuses on enabling robots to perceive, decide, and act autonomously.

Since its founding in 2020, 3Srobotics has developed integrated intelligent welding solutions combining robotic hardware, AI vision, and welding systems. Its overseas debut showcases its innovations and advances global partnerships in Physical AI.

From executing movements to understanding tasks, 3Srobotics continues to advance robot autonomy through real-world industrial applications:

The first generation of general-purpose industrial robots established the foundation for automation through precise control.

The second generation of embodied intelligent welding robots integrates AI vision and intelligent welding systems, enabling autonomous perception, decision-making, and execution.

The third generation adds mobility, extending intelligent welding beyond fixed workstations to more dynamic industrial environments.

The three generations mark advances in robot autonomy and operational capabilities. At FABTECH 2026, 3Srobotics unveiled its 3-in-1 Embodied Intelligent Welding System, integrating robotic hardware, AI vision, and intelligent welding technology to bring Physical AI into real-world manufacturing.

Powered by its in-house Arclys intelligent welding system, the solution integrates robotic hardware, AI vision, and welding processes into a closed loop of autonomous perception, decision-making, and execution.

Eye: Uses a 3D vision camera to identify workpieces and weld features autonomously.Brain: Uses AI algorithms and welding process data to autonomously plan welding paths and select process parameters.Hand: Uses a multi-axis robotic arm for more flexible and autonomous welding operations.

For 3Srobotics, Physical AI goes beyond algorithms and models. It turns autonomous decision-making into measurable, deployable productivity in real-world manufacturing.

The global shift toward intelligent manufacturing is creating new opportunities for Chinese companies. As demand for flexible production, automation, and high-quality welding grows, 3Srobotics is accelerating its global expansion, building on its industrial expertise in China. Its debut at FABTECH 2026 marks a key step in this strategy.

3Srobotics’ overseas debut marks a key step in its global expansion. The company will continue advancing Physical AI, developing industry-specific solutions, and partnering globally to bring intelligent welding to more industrial applications. Powered by Chinese innovation, built for the world.

FABTECH 2026 is still underway. We welcome you to visit 3Srobotics at the Las Vegas Convention Center, Las Vegas, USA. Find us at South Hall, Level 2 | Booth S39072. We look forward to meeting you.

View original content to download multimedia:https://www.prnewswire.com/news-releases/one-step-further-on-the-global-stage–3srobotics-makes-its-north-american-debut-at-fabtech-us-2026-302917863.html

SOURCE 3Srobotics

Continue Reading

Technology

Volvo Cars Q3 2026: taking decisive action to navigate a very tough environment

Published

57 minutes ago

on

October 23, 2026

By

GOTHENBURG, Sweden, Oct. 23, 2026 /PRNewswire/ — Volvo Cars today reports an operating income, excluding joint ventures & associates and items affecting comparability, of SEK -3.7 billion and a corresponding EBIT margin of -5.6 per cent for the third quarter of 2026. The result reflects a further deteriorating external environment, led by market developments in China and the US.

Q3 revenue was SEK 66.9 bn (SEK 86.4 bn in Q3 2025)Q3 operating income was SEK -5.6 bn (SEK 6.4 bn in Q3 2025)Q3 EBIT (excl. share of income in JVs & associates and IAC) was SEK -3.7 bn (SEK 5.8 bn in Q3 2025)Q3 EBIT margin was -8.4 per cent (7.4 per cent in Q3 2025)Q3 EBIT margin (excl. share of income in JVs & associates and IAC) of -5.6 per cent (6.7 per cent in Q3 2025)Q3 basic earnings per share were SEK -1.63 (SEK 1.75 in Q3 2025)Q3 fully electric car sales share at 32 per cent (22 per cent in Q3 2025)Q3 electrified car sales share at 53 per cent (46 per cent in Q3 2025)Q3 free cash flow of SEK -8.9 billion (SEK -4.3 billion in Q3 2025)

Volvo Cars today reports an operating income, excluding joint ventures & associates and items affecting comparability, of SEK -3.7 billion and a corresponding EBIT margin of -5.6 per cent for the third quarter of 2026. The result reflects a further deteriorating external environment, led by market developments in China and the US.

Volvo Cars remains a leader in the premium fully electric (BEV) segment, underpinned by a resilient performance in Europe where it had a BEV sales share of 45 per cent in Q3. But the situation in China and the US was considerably tougher, which also negatively affected free cash flow.

In China, Volvo Cars and other legacy premium brands faced hypercompetition from new Chinese alternatives, as well as severe pricing pressure. As a result, Volvo Cars’ revenues in China fell by almost 50 per cent year-on-year. In the US, Volvo Cars saw continued negative effects from tariffs and the removal of consumer incentives for electrified cars, which pressured margins.

The company’s Q3 result was also affected by other external developments: a negative revaluation of SEK 1.1 billion in CAFE credits due to legislation changes in the US, negative raw material developments, and SEK -0.9 billion due to the recognition of Polestar’s losses in Q2 2026.

In response to the result, Volvo Cars aims to reduce an additional SEK 5 billion in indirect spend and variable costs, on top of earlier cost programmes it successfully completed. These actions will lead to a structural reduction of approximately 2,500 jobs globally, of which 2,000 are based in Sweden, by ending consultant contracts, through natural attrition and by targeted exit packages to employees.

Full financial effects of these measures will be realised by the end of 2027, by which time the company’s overall indirect spend will be almost 25 per cent lower versus FY 2024.

The company is also working at speed on its recently announced, largest-ever product push. This consists of 13 new cars between now and the end of 2030, with a tailored portfolio of new cars for Europe, the US and China and more localised production. Already in 2027, Volvo Cars will reveal three of these new cars: one new car for Europe and two China-specific models.

More details about Volvo Cars’ performance can be found in the Q3 2026 financial report. 

“We continue to operate in a very tough environment with strong external challenges: de-globalisation, hypercompetition and climate change. We are convinced that we have the right long-term strategy addressing these challenges,” says Håkan Samuelsson, president and CEO. “However, in the short term, with severely challenged volumes, we need to reinforce our turnaround plan with additional decisive actions, lowering our break-even point and improving cash flows to make us more resilient.”

A reinforced turnaround plan with the right regional products

Reflecting its strong BEV position in Europe, the EX60 has been a big success with over 50,000 European orders and it will be one of Volvo Cars’ most profitable models. Due to new industrial technology such as cell-to-body it is taking longer than planned to ramp up production, but Volvo Cars is steadily improving built volumes.

In 2027 Volvo Cars will introduce its next global BEV car, which targets a large, lower priced market segment in Europe, with the first customer deliveries starting after summer. This will further strengthen its BEV leadership and improve margins.

In the US, Volvo Cars has divided the market in four regions to enable faster decision-making and improve sales. It is fast-tracking the production start of the long-range plug-in hybrid versions of the XC90 and XC60, with European deliveries starting this year and the US shortly after. In Q1 2027, it will localise XC60 production in Charleston. By the end of the decade, it will localise a second, all-new car with multiple powertrain options.

In China, the next two years will remain tough, so Volvo Cars is taking further cost-efficiency actions to weather the storm. For example, it will combine its two offices in Shanghai by moving the sales office to the local HQ in Jiading.

Mid-next year Volvo Cars will reveal and start production of the first two of six new China-tailored cars, through closer cooperation with Geely. These cars will be developed with a Chinese tech stack and the latest ADAS technologies to make them fully competitive in China. 

Additional cost and cash actions

Volvo Cars will achieve the additional savings of SEK 5 billion by driving structural change, lowering corporate overheads and empowering its regions. It is adapting its blue-collar workforce to current volumes by leveraging existing flexibility and will continue to reduce R&D costs, as it has already established its tech foundation with SPA3 and HuginCore.

Volvo Cars will also develop a more efficient production structure by concentrating on five dedicated Volvo plants globally. For its Chengdu and Ghent plants the company is exploring the option of multi-brand assembly together with Geely.

In addition, the company will further lower its variable costs, for example by increasing its common supplier base with Geely Group and adopting more common hardware parts in its cars.

Finally, Volvo Cars will continue to prioritise cash. The company has passed its investment peak and has now returned to normal and affordable investment levels, corresponding to an approximately 30 per cent reduction compared to 2024. 

Note to editors

Volvo Cars will host a livestream on its Q3 2026 results for media, investors and analysts at 08:00 CET today. The presentation will be held in English and followed by a Q&A session.

Link for livestream

It will be possible to ask questions during the Q&A session following the main presentation. To participate, you can either use the chat function online to type your question, or you can call in. To call in, participants need to register via the link below and will then receive the dial-in details and individual PIN.

Link to register

This disclosure contains information that Volvo Car AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 23-10-2026 07:00 CET.

For further information please contact:
Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com

Volvo Cars Investor Relations
+46 31-793 94 00
investors@volvocars.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/volvo-car-ab–publ-/r/volvo-cars-q3-2026–taking-decisive-action-to-navigate-a-very-tough-environment,c4414242

The following files are available for download:

 

View original content:https://www.prnewswire.com/news-releases/volvo-cars-q3-2026-taking-decisive-action-to-navigate-a-very-tough-environment-302917802.html

SOURCE Volvo Car AB (publ)

Continue Reading

Trending