Volvo Group, one of the world’s largest truck makers, has proposed that Par Boman be appointed its new chairman at the Swedish company’s annual general meeting in March.

Volvo AB’s second-largest shareholder, Geely, said while it’s not currently planning any changes to its position, “anything is possible” in the future.

Chinese billionaire Li Shufu’s Zhejiang Geely Holding Group Co. has divested its 6.3% stake in truck maker Daimler Truck Holding AG, equivalent to roughly $1.6 billion.

Renault Trucks has helped Coca-Cola beat Pepsi and Tesla Inc. to the punch on electric deliveries. Coca-Cola will start using battery trucks from the Volvo AB-owned brand for local trips in Belgium on Nov. 24.

Electric carmaker Polestar Automotive Holding has agreed to share battery technology with Candela Speed Boat AB, a startup trying to electrify leisure boats and water taxis.

Volvo AB plans to build a “large-scale” battery plant in Sweden to meet an expected surge in demand for electric trucks and buses.

Electric truck maker Einride AB has received approvals to test its driverless vehicle on public roads in the U.S., paving the way for the company to conduct a pilot with partner GE Appliances.

Volvo AB said Russia’s war in Ukraine has forced it to make provisions in the first quarter totaling $423 million that will have a negative impact on operating income.

Northvolt AB plans to convert a closed paper mill in Sweden into a new battery materials factory, adding a third production facility in the Nordic country to supply demand fueled by the growing electrification of transport.

Volvo Group said the chip shortages and supply chain snarls will continue to cap truck making, leaving the Swedish manufacturer with little choice but to turn away some customers.