‘More interest than you might believe’ in electric machines, says Volvo CE’s CEO

Speaking to the media during a press event at ConExpo-Con/Agg 2026 in Las Vegas earlier this month, Melker Jernberg said that the company is taking a “multi-technology approach”, with battery-electric, internal combustion engine, grid-connected machines and more.

He said the company has now renewed a third of its entire product portfolio, introducing a new range of excavators, wheeled loaders, and a renewed set of articulated haulers (together, wheeled loaders, excavators, and articulated haulers make up 70% of Volvo CE’s market).

Jernberg said the company was continuing with electrification and highlighted the L120 electric wheeled loader, which it displayed at the show alongside 14 new machines, as an example. The 20-tonne machine has a lifting capacity of six tonnes, rated power of 228kW, and an indicative runtime of five to nine hours.

“We continue [on electrification], we have three models on our booth, and there are much more discussions and interest from customers than you might believe. So I think it will come back. It will be a great future,” he added.

Melker Jernberg speaks in front of a Volvo A30 articulated dump truck at Bauma 2025 (Image: Andy Brown)

Asked by Construction Briefing what was driving the interest and what gave him faith that the market for electric machines would come back, Jernberg said, “It’s a big question but the interest of countries, companies, and people to save the planet has disappeared a bit in the communication. And it will come back because it is a problem that we need to solve.

“What is happening short-term on our equipment side is that it’s more and more evident that we need to be on total cost of ownership (TCO) parity. And that put a lot of good pressure on us when it comes to the speed of innovation and lead time.”

Referring back to the L120 wheeled loader he added that the diesel version of the machine uses about 16 litres of fuel per hour, which is 160 kilowatt hours. By contrast, the electric version uses below 40 kilowatt hours.

“So the energy consumption is a quarter of the diesel version. And if we then can come to a price point that is good enough, then you have that TCO parity,” he added.

He also highlighted other benefits of electric machines to the operator, including reduced noise levels and increased comfort.

Meanwhile, Anna Müller, president of Volvo Penta, explained how the company has doubled its engine sales in the industrial segment in North America.

She said, “I think that’s a great achievement by our team. And we have done that by providing a future-proof portfolio based on the Volvo Group technologies. We have battery electric, we have Tier 4 Final and Stage V-certified combustion engines, and we have engines running on alternative fuels.”

In the quarrying and mining segment, she added that Volvo Penta now has a 30% market share in underground mining, having entered that market 15 years ago.