This move will create more than 700 high-tech jobs and help the Swedish automaker ramp up its product and software offerings.
Modern cars are filled with tech. Your average new vehicles is loaded with enough circuits, sensors and software to make a server farm blush, though this electrification is only going to intensify going forward. To make sure it's ahead of the curve, on Friday Volvo announced it's investing in a new tech hub in the center of Stockholm.
The Swedish automaker's outlay will expand its current location and create a workplace for more than 700 people including software engineers, data scientists, analysts, product management professionals and others. Volvo needs so many high-tech experts because it wants to sell at least half of all its cars online and developed at least half of its own software by the middle of this decade, ambitious goals for a relatively small company like this.
Volvo is casting a wide net here, aiming to attract folks from across the globe. "People with the right competence and values make the difference for our ambitions and that's why we're establishing our new tech hub in Stockholm," said Hanna Fager, head of corporate functions at Volvo, in a release provided by the automaker. The Swedish capital city is already home to several top-notch tech firms, and the automaker likely hopes this halo effect will help it attract the people it needs.
But aside from software development and online sales, Volvo also wants to deliver a world-class ownership experience, another reason for expanding its operations in Stockholm. More people can help the automaker better manage its products, improve engineering and enhance the user experience of its vehicles.
Volvo's tech hub workspace will be updated later this year. Aside from handling vehicle development, the facility will also serve as the company's base in the Stockholm area.