When it comes to the automotive industry, Sweden might not be the first name that comes to mind, but this Scandinavian nation boasts a thriving automotive sector with global recognition. At the forefront of Sweden's automotive legacy are two iconic passenger car manufacturers, Volvo Cars and Saab Automobile, who have made Swedish engineering synonymous with quality, safety and reliability.
Sweden's automotive industry has a second, very profitable branch beyond passenger cars as the country is home to two of the world's largest truck manufacturers, AB Volvo and Scania AB. These industry giants produce heavy vehicles that are essential to global transportation and logistics. In fact, approximately 95% of heavy vehicles manufactured in Sweden find themselves trekking on tough roads and construction sites all over the world. We see high export rates with passenger cars as well (over 85% of passenger vehicles are shipped abroad.)
The economic contribution of this sector to Sweden's industry is significant. In 2011, it employed around 110,000 people and generated 150 billion SEK in export income, accounting for 12 percent of the country's total exports. One notable name in the Swedish automotive industry is Koenigsegg, a manufacturer famous for crafting some of the world's fastest and most exclusive cars. Models like the Jesko, Gemera and CC850 exemplify the tenets of luxury design and robust engineering.
Sweden's automotive industry has also embraced innovation in sustainable mobility. Startups like Uniti Sweden have raised substantial funds for electric city car development. These innovative vehicles, made of biocomposites and carbon fibers, are designed for eco-conscious urban driving, offering technologies like steer-by-wire systems and head-up displays, marking a shift towards more sustainable transportation. As Sweden's automotive sector continues to grow and evolve, its impact on the global automotive landscape becomes more pronounced, reaffirming Sweden's status as a powerhouse in the industry.