Volvo found that the recent volume surge for its excavator products was largely due to growing urbanization in emerging economies like China and India. With global infrastructure investment estimated at $350 trillion over the next 30 years, Volvo came up with three key areas of focus to keep up with future demand expectations.
First is technology. With environmental impact driving diesel bans around the world, Volvo plans to continue to develop new competencies in electrification and telematics to ensure future vehicles meet the expectations of both consumers and regulations.
Second is design. Customer demands vary drastically across applications, and engineering for vehicle versatility will be key for meeting future demand.
And lastly, manufacturers will need to find new ways of improving the efficiency of their operations. Volvo sees a building block approach as a possible route, what they are referring to as the CAST model—or Common Architecture Sharing Technology.
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