Volvo Trucks Seeks a Rapid Reduction in Carbon Dioxide Emissions

STOCKHOLM, Sweden--(Business Wire)--Regulatory News:

Volvo Trucks is, through Volvo Logistics, challenging its
transporters to reduce carbon dioxide emissions by 20 percent within
the next two years. This challenge is yet another element in Volvo
Trucks' climate strategy which already aims at, among other things,
carbon-neutral production, energy efficiency, alternative fuel
technology and recycling.

"I want the transporters who deliver goods to and from our main
factories in Europe to reduce their carbon dioxide emissions by 20
percent by 2010. This is part of our climate strategy," says Volvo
Trucks' President and CEO, Staffan Jufors. "Our emissions can be
rapidly reduced through a number of measures, such as reduced fuel
consumption, more efficient logistics, the use of biofuels and the
replacement of old vehicles."

Volvo Trucks already offers a number of products and services
whose purpose is to reduce fuel consumption and, thereby, the
environmental impact of Volvo Trucks' customers. One example of this
is Fuelwatch.

Volvo Logistics is working together with transporters Volvo
Logistics, which is responsible for Volvo Trucks' transports, will
develop a set of concrete measures together with its suppliers. "We
are prepared to take on the tough challenge that a 20 percent
reduction in carbon dioxide emissions by 2010 implies," says Ake
Niklasson, President of Volvo Logistics.

In conjunction with the "Logistics & Transport" exhibition in
Goteborg, which takes place from May 20 to 22, Volvo Logistics will
present its action plan for the reduction of carbon dioxide.

Halved climate impact a common goal Volvo Trucks announced its
challenge in conjunction with the seminar, "Klimatneutrala
godstransporter pa vag" (On the Road to Climate Neutral Freight
Transportation). The seminar was organised together with Schenker,
Preem, the Swedish Road Administration and Chalmers University of
Technology, with participation from Asa Torstensson, Minister of
Infrastructure. These actors have a common goal - to halve the climate
impact of goods transports by 2020 compared with 2005. In the long
run, the aim is to make goods transports by road entirely carbon
dioxide neutral.

January 22, 2008

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Volvo Trucks (NASDAQ:VOLV) (STO:VOLVA) (STO:VOLVB) provides
complete transport solutions for professional and business-driven
customers. The company offers a full range of medium to heavy duty
trucks, with a strong global network of 3,000 service points in more
than 130 countries. In 2006 Volvo Trucks sold more than 105,000 trucks
worldwide. Volvo Trucks is a part of the Volvo Group, one of the
world's leading manufacturers of trucks, buses and construction
equipment, drive systems for marine and industrial applications,
aerospace components and services. The Group also provides solutions
for financing and service.

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Volvo Trucks
Lennart Pilskog
phone +46 703 183 422
lennart.pilskog@volvo.com

Copyright Business Wire 2008