Volvo agrees to sell French vehicle maker Arquus

Volvo Group has agreed to promote French car producer Arquus to John Cockerill Protection. Consultations with employees must be accomplished earlier than the tip of March and the acquisition will then be topic to governmental approvals and different circumstances.

Volvo mentioned the group’s working revenue could be negatively impacted by roughly SEK900 million (US$86.4 million) within the fourth quarter of 2023.

Arquus manufactures and sells specifically designed autos to defence forces and employs about 1,200 staff in France. In 2022, Arquus represented roughly 1% of Volvo Group revenues.

Arquus’s vary of autos for the French defence forces has included Trapper VT4 mild all-terrain autos,