The move recognizes the important role digital services will play in the development of efficient and sustainable people transportation.
With extensive business and leadership experience within the Volvo Group, Paul Le Houillier will bring solid know-how and strategic vision to Nova Bus.
The acquisition, which was made at a purchase price of $210 million before adjustment for inventory level at closing and was first announced in November, includes a development center for battery modules and packs in California and an assembly factory in Greer, S.C.
The acquisition will add heavy-duty transit buses to Phoenix's existing product line of medium-duty shuttle and school buses.
The restructuring will not have a material impact on Volvo Group revenues. When completed, the restructuring is expected to make the Nova Bus operation profitable, according to the company.
Francois Tremblay will also replace Ralph Acs as a member of the Volvo Group North America Country management team.
The investment highlights the companies’ shared commitment to sustainable bus fleets and more efficient transportation operations.
A new business unit within the Volvo Group will take a life-cycle approach to batteries, electric vehicles, and other aspects of transportation electrification.
Technicians are factory trained to work on Prevost, Nova Bus, and Volvo motorcoaches, as well as other motorcoach brands.
The system will be introduced on Volvo’s European city bus fleet in 2017.
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