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Posted on: March 2, 2022

Volvo Group Announces Investment, Expansion, HQ

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Volvo Group Announces Investment in Expanded U.S. Uptime Center, Co-Location of Volvo Financial Services Headquarters

 

 February 21, 2022

 High Point, NC -- The Volvo Group announced today a $41 million investment in North Carolina’s Piedmont Triad to purchase and expand the building housing its U.S. Uptime Center, which will now also serve as the new global headquarters for Volvo Financial Services (VFS).  The expansion of the building, which is about two miles from VFS’s currently leased location, will bring about 360 VFS colleagues onto Volvo Group North America’s campus. 

 The announcements were made during a groundbreaking ceremony by Martin Weissburg, Volvo Group North America (VGNA) chairman and Mack Trucks president, and Marcio Pedroso, Volvo Financial Services (VFS) president at VGNA’s Uptime Center. 

 “The Uptime Center is a strategic site for Volvo Group North America, playing a critical role in keeping our customers and their vehicles on the road, delivering goods, transporting people and servicing communities throughout the year,” said Martin Weissburg. “Our purchase and expansion of this facility reinforces our commitment to the great communities and residents of the Piedmont Triad, and we look forward to welcoming Volvo Financial Services to our campus.”  

 “Moving Volvo Financial Services allows all Volvo Group entities in the Piedmont to be located on one campus,” said Marcio Pedroso. “Co-location will enable deeper relationships with our colleagues, and the work environment we’ll create in our new headquarters will help us retain highly skilled, world-class jobs that support the local economy.”

 Volvo Group’s investment includes the acquisition of the Uptime Center building, which opened in 2014 and was previously leased by the company, as well as a 62,000 square-foot (5,800 square meters) expansion of the Uptime Center to house Volvo Financial Services’ global headquarters. At project completion, the facility’s new three-story footprint will be about 185,000 square feet (17,150 square meters), connected by a glass atrium and two upper-level walkways. 

 Volvo Financial Services (VFS) is the captive finance arm of the Volvo Group, providing financial services and solutions for customers of Mack Trucks, Volvo Trucks, Volvo Construction Equipment, Nova buses, Prevost coaches and Volvo buses here in North America, as well as other Volvo Group brands around the world. VFS operates in 50 countries around the globe with approximately 1,700 colleagues worldwide. 

The Uptime Center site, which straddles the cities of Greensboro and High Point, houses key resources to ensure that customers’ commercial trucks keep moving, with people and systems dedicated to: monitoring and responding to vehicle issues in real time; helping dealers troubleshoot difficult cases; and finding the necessary parts for repair. 

 This site also includes the company’s world-class connectivity services for over-the-air monitoring and software updates for optimized vehicle performance, as well as service market logistics, IT, training facilities and finance and accounting.  

 The Volvo Group employs today around 600 people at the Uptime Center. At project completion, which is expected in the first quarter 2023, Volvo Financial Services will relocate approximately 360 jobs to their new headquarters.   

 

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A group of people in hardhats standing outside a building</p><p>Description automatically generated with low confidence

 Caption: The Volvo Group announced today a $41 million investment in North Carolina’s Piedmont Triad to purchase and expand the building housing its U.S. Uptime Center, which will now also serve as the new global headquarters for Volvo Financial Services (VFS).  Company executives were joined by local officials to break ground on the new facility, including (left to right):  Mark Curri, senior vice president, Uptime and Customer Support; Guilford County Commissioner James Upchurch; Greensboro Mayor Nancy B. Vaughan; High Point Mayor Jay W. Wagner; Volvo Group North America (VGNA) chairman and Mack Trucks president Martin Weissburg; VFS president Marcio Pedroso; Pam Wray, VGNA vice president, Real Estate; Patrick Shannon, senior vice president, VFS North America Region; and VGNA senior vice president of Communications John Mies.

 

A person walking in front of a building with cars parked in front</p><p>Description automatically generated with low confidence

 Caption: The Volvo Group announced today a $41 million investment in North Carolina’s Piedmont Triad to purchase and expand the building housing its U.S. Uptime Center (rendering shown above), which will now also serve as the new global headquarters for Volvo Financial Services (VFS).  The expansion of the building, which is about two miles from VFS’s currently leased location, will bring about 360 VFS colleagues onto Volvo Group North America’s campus. 

 

Men standing in front of trucks</p><p>Description automatically generated with low confidence

 Caption: (right to left) Volvo Group North America chairman and Mack Trucks president Martin Weissburg and Volvo Financial Services president Marcio Pedroso announced today a $41 million investment in North Carolina’s Piedmont Triad to purchase and expand the building housing its U.S. Uptime Center, which will now also serve as the new global headquarters for Volvo Financial Services (VFS). The expansion of the building, which is about two miles from VFS’s currently leased location, will bring about 360 VFS colleagues onto Volvo Group North America’s campus. 

 

 

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs nearly 100,000 people and serves customers in more than 190 markets. Volvo Group North America, with headquarters in Greensboro, NC, employs approximately 13,300 people in North America and operates 15 manufacturing and remanufacturing facilities in Canada, Mexico and the United States. In 2021, the Volvo Group’s global net sales amounted to about $43 billion USD.  Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com.

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