Volvo Cars Suffers Cyberattack, Confirms R&D Data Stolen
Volvo, the Swedish automaker, announced on Friday that hackers had stolen research and development data from its systems in a cyberattack.
The company, which is owned by China’s Geely, stated that it “has become aware that one of its file repositories has been illegally accessed by a third party.”
“So far, investigations confirm that a limited amount of the company’s R&D property was stolen during the intrusion,” Volvo added.
It warned that the hack “may have an impact on the company’s operation,” sending its stock down 3.5 percent in Stockholm to 72.44 kronor (roughly Rs. 600).
However, the company stated that there was most likely no “impact on the safety or security of its customers’ cars or personal data.”
Goteborg-based Volvo is currently investing heavily in electrifying its entire lineup by 2030.
According to an AFP spokesman, the company was not affected by ransomware and retained complete control over its data.
He went on to say that a “third party” had contacted Volvo “recently” about the information theft, but he didn’t go into detail about the exchange.
Volvo split from truck manufacturer Volvo Group in 1999, and was purchased by Geely in 2010.
