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Volvo Car AB needs to be more in control of the software it develops and deploys in its vehicles, the automaker’s new CEO said.

The Volvo Group announced a $41 million investment in North Carolina’s Piedmont Triad region to purchase and expand the building housing its U.S. Uptime Center, which will now also serve as the global headquarters for Volvo Financial Services (VFS).

Allison Transmission announced its 3414 Regional Haul Series fully automatic transmission is available to order in Volvo Trucks North America’s heavy-duty VNL model.

Volvo Group reported net income slipped and revenue increased modestly in the fourth quarter, and noted that global demand for trucks remained high amid a steep decline in sales of construction equipment in China and a falloff in its bus business.

Volvo Car AB gained in its trading debut in Stockholm after raising 20 billion kronor ($2.3 billion) in an initial public offering, as investors bought into the company’s successful turnaround and promise of an electric future.

Volvo Group reported strong third-quarter earnings and revenue gains in the face of chip shortages and other issues caused by global supply chain disruptions.

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.

Volvo Autonomous Solutions announced its first major steps toward the autonomous Volvo VNL model in North America, drawing on its partnership with Aurora Innovation Inc., a self-driving vehicle technology company.

Volvo Trucks announced DFDS, one of Europe’s largest shipping and logistics companies, placed an order for 100 Volvo FM series electric trucks, and noted it is the truck maker’s largest such order and one of the largest of its type yet in trucking.

Volvo Car AB is recalling more than 460,000 vehicles worldwide over risk an air-bag component that has bedeviled automakers for years could rupture into metal fragments and strike drivers.