Volvo Car Corporation PZEV and CNG / Biogas Vehicles Head to Sonoma for 2003 Challenge Bibendum(TM)

Premium Automaker Demonstrates Clean, Practical Products That Promote Sustainable Mobility at Michelin's Environment Event

IRVINE, Calif., Sept. 2 -- Volvo Car Corporation announced today that it will field a team of six passenger vehicles and an exhibit to demonstrate its commitment toward sustainable mobility at Michelin's fifth international environmental vehicle event, the 2003 Challenge Bibendum(TM). The event will be held in Sonoma and San Francisco, Calif. Sept. 23-25. Including the Volvo Cars team, more than 100 passenger and commercial vehicles and more than 50 learning center exhibitors will participate.

"Volvo Cars supports Michelin's efforts to recognize the variety of options that are being evaluated toward environmentally sustainable mobility. In Europe, Volvo Cars is already offering safe and practical Bi-Fuel cars that promote methane gas, known as both natural gas and biogas. Biogas is a clean renewable fuel that can be produced locally and practically reduces CO2 emissions one hundred percent. Along with super-low-emissions passenger cars now available in the United States, these products illustrate Volvo Cars commitment to contribute to sustainable development," says Sven Eckerstein, Senior Vice President & Deputy CEO, Volvo Car Corporation.

Volvo Cars is working with external partners to develop an infrastructure for sustainable personal transportation in western Sweden that can be adapted elsewhere, including California, in the near future. The visionary director of this effort, Mr. Goran Varmby, Business Region Goteborg, will be on hand to present the status of this project.

Along with Safety and Quality, Environment has been one of Volvo Car's core values for the last thirty years. The environmental programs embrace a car's complete life cycle, ongoing technical development, and efficient utilization of resources.

  The Volvo Team for the 2003 Challenge Bibendum includes:

   S60 PZEV Sport Sedan:    Highest ranked premium car in US EPA Green Car
                            Guide.
   V70 PZEV Wagon:          Second highest ranked premium car in US EPA
                            Green Car Guide.

   S80 CNG Bi-Fuel Sedan:   Luxury sedan designed for zero-CO2 biogas or
                            clean natural gas, with ability to run on
                            gasoline when necessary.

   V70 CNG Bi-Fuel Wagon:   Roomy wagon designed for zero-CO2 biogas or
                            clean natural gas, with ability to run on
                            gasoline when necessary.

Challenge Bibendum(TM), considered one of the premier global events for advanced technology vehicles, was established by the Michelin Group as an objective way to bring together and test the best available technologies for environmentally positive vehicles. The annual event features vehicles from major manufacturers on three continents and brings together all partners in the automotive world: vehicle manufacturers, designers, energy suppliers, technical leaders, policy makers, universities and government organizations.

A true competition, Challenge Bibendum is one of the few events to compare different advanced technologies head-to-head. The event is open to all energy sources from electric cars to hybrid fuel cells to hydrogen powered buses. Advanced technology vehicles are rated on emissions, acceleration, braking, handling, noise and energy efficiency during the annual competition.

The 2003 Challenge Bibendum will be held in Sonoma and San Francisco, Calif., Sept. 23-25. In addition to Volvo, other participating automakers include: Audi, American Honda, DaimlerChrysler, Ford Motor Company, General Motors, Hyundai, Nissan, Toyota, Volkswagen and Volvo Truck. Complete information is available at www.challengebibendum.com.

Michelin manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks and the space shuttle. The company also publishes travel guides, maps and atlases covering Europe, Asia, Africa and North America. Headquartered in Greenville, S.C., Michelin North America (www.michelin.com) employs 24,640 and operates 22 plants in 18 locations.