Volvo Trucks and CEMEX Unveil First Fully Electric Heavy Concrete Mixer Truck

CEMEX, S.A.B. de C.V. ("CEMEX") announced today that Volvo Trucks has supplied it with the world's first fully electric and zero-emission heavy concrete mixer truck at a joint event in Berlin, Germany. The truck is the latest development of an agreement signed between the companies in 2021 to closely collaborate to improve productivity and carbon emissions reductions through the global implementation of electromobility solutions on mobile construction equipment and trucks, productivity solutions, and uptime services.

The Volvo FMX electric truck can be used a full day's work with a single top-up charge. It will be operating at the Berlin Spandau ready-mix plant in Berlin, starting this month. As fully electric heavy-duty transport is gradually increasing, Volvo and CEMEX are working to discover, pilot, and scale the technologies needed to make emissions-free transport also a reality in the construction industry.

"We are very happy to take this important step in the partnership with CEMEX. Both our companies have committed to ambitious sustainability targets and collaboration is the way to get there. Together we will work to implement CO₂-neutral transport in the construction industry. Our electric trucks are zero emissions and their silent operation also provides a better environment for people working at construction sites, as well as for residents living in the city," said Roger Alm, President Volvo Trucks.

"CEMEX is committed to becoming a net-zero CO₂ company; innovation and collaboration are at the core of this commitment," said Fernando A. González, CEO of CEMEX. "Our partnership with Volvo has tremendous potential to contribute to the decarbonization of our business. Rolling out our first fully electric ready-mix truck is a strong progress in that direction."

CEMEX and Volvo Group are founding members of the First Movers Coalition, a collaboration between the World Economic Forum and US Special Presidential Envoy for Climate John Kerry, for companies to make purchasing commitments that create market demand for low-carbon technologies.

Volvo Trucks and CEMEX are committed to reaching their ambitious sustainability targets and contributing to the decarbonization of the global economy. As global leaders in their respective industries, CEMEX and Volvo bring together in this alliance unique experiences and approaches to innovation and technology that can drive real progress on climate action.

Under its Future in Action program, CEMEX recently announced updated leading industry climate action targets of below 430 kg CO₂ per metric ton of cementitious materials, an approximate 47% reduction in CO₂ emissions, by 2030. This new goal aligns with the 1.5ºC of the Science-Based Target initiative ("SBTi). The company also reaffirmed and verified its goal of being a net-zero company by 2050.

Volvo Trucks has the most complete electric lineup in the global truck industry, from 16 tons to 44 tons, and covering everything from city distribution and refuse handling, to urban construction transports and regional haulage. Volvo Trucks is the market leader in heavy electric trucks in Europe and the US. The company's target is that half of its total truck sales will be electric by 2030. Volvo Trucks is committed to the Paris Agreement and to achieving net-zero greenhouse gas emissions in the value-chain by 2040, at the latest.

About Volvo Trucks

Volvo Trucks supplies complete transport solutions for discerning professional customers with its full range of medium- and heavy-duty trucks. Customer support is provided via a global network of dealers with 2,300 service points in about 130 countries. Volvo trucks are assembled in 12 countries across the globe. In 2022 approximately 145,000 Volvo trucks were delivered worldwide. Volvo Trucks is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The group also provides complete solutions for financing and service. Volvo Trucks' work is based on the core values of quality, safety and environmental care.

About CEMEX

CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: www.cemex.com

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