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Volvo AB declined after saying it will gradually reduce production in line with normalizing demand after years of supply chain disruptions that left manufacturers with record order banks.

Volvo AB’s second-largest shareholder Geely confirmed it lowered its stake in the company by redeeming bondholders with the truck maker’s shares over the past months.

Scania is combining with logistics firm sennder Technologies to deploy 100 e-trucks to carriers in Germany.

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.