The funds will also be invested in the manufacturing process for electric cars. The issued bond adheres to Volvo Cars' Green Financing Framework, which defines how it uses green financing instruments to support its ambitious sustainability strategy. The framework has been evaluated through Shades of Green, the rating agency S&P Global's methodology for assessing green bond frameworks, and received Dark Green, the highest rating. "We have a solid liquidity position, and this issuance shows strong support for Volvo Cars and our transformation from valued investors," says Johan Ekdahl, Chief Financial Officer, Volvo Cars. "We will continue to explore more sustainable financing and investment opportunities in the future, as part of our aim for all our outstanding debt to be linked to the Green Financing Framework or in sustainability-linked format by 2025." The EUR 500m bond is issued under Volvo Cars' Euro Medium Term Note program.