"The Volvo Ocean Race has been a great vehicle for building customer relationships, strengthening the Volvo brand and presenting our company and our products to a global audience," says Kina Wileke, Executive Vice President, Volvo Group Communications.
"After twenty years we feel that it is time to hand over responsibility for this prestigious competition to a new and capable owner with the focus, experience and know how needed to develop it even further," says Björn Annwall, Senior Vice President at Volvo Cars. "Volvo Cars will continue to support the next edition of the race as a sponsor with special focus on sustainability."
Volvo Group and Volvo Cars have actively developed the race, leading to record levels of race village visitors and online and television coverage, benefitting the companies and partners.
The current edition of the race will continue as planned with the boats leaving for the penultimate leg from Cardiff to Gothenburg at 16:00hrs on 10th June 2018, ahead of the final leg from there into Scheveningen in the Netherlands on 24th June 2018. The current edition of the race will end there on 30th June 2018.
"We will meet with several thousand customers at the remaining stopovers in Cardiff, Gothenburg and The Hague. We are committed to providing them with a unique experience mixing business seminars, discussions with industry peers, exploration of our full offering and innovative technology against a premium backdrop," says Kina Wileke.
Transfer of ownership and responsibility will take place thereafter subject to the satisfaction of certain conditions. The next edition of the Race is scheduled for 2021-2022.