Business

Volta Trucks appoints prior Volvo Trucks exec. Claes Nilsson to BoD

Nilsson joins the Volta Trucks Board following a career as president of Volvo Trucks and member of its executive board.

By David Sickels
January 29, 2023

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Volta Trucks has appointed Claes Nilsson to its board of directors. Nilsson joins the Volta Trucks board following a career in commercial vehicles with AB Volvo, where he held the position of president of Volvo Trucks and member of its executive board. Prior to this, he was responsible for Volvo Trucks regions in Europe, South America, Asia, and Africa, as well as previously being responsible for strategy, business development and product planning, both regionally and globally.

He’s also held board positions for Volvo Financial Services, Volvo Venture Capital and several market companies across AB Volvo.

BorgWarner acquires Hubei SSE charging business

SSE’s electrification capabilities in China are expected to complement BorgWarner in Europe and North America.

By David Sickels
March 9, 2023

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BorgWarner has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of Hubei Surpass Sun Electric (SSE). The transaction has an enterprise value of up to RMB 410 million (approx. $59.36 million).

Headquartered in Xiangyang, Hubei province, China, SSE’s electrification business supplies patented electric vehicle charging solutions to customers in China and more than 70 other countries. SSE says it has delivered over 50,000 charging points and has led the engineering, procurement, and construction (EPC) of more than 250 charging station sites. SSE’s charging and electrification capabilities in China are expected to complement BorgWarner’s existing capabilities in Europe and North America, the companies say. SSE’s 2022 revenues for the electrification business are expected to be approximately RMB 180 million (approx. $26.06 million).