In the long term, Volvo wishes to compete in a global, open-wheel championship racing series, but not in Formula One.
Volvo chief Alain Visser told Motorsport.com the following:
"I still do not see that racing suits our DNA, as Volvo should convey safety and low consumption."
"I would say that Le Mans is the absolutely dumbest racing class you could be in. It costs 20 million euros for one car and you get press coverage for 24 hours!"
But, as racing turns more and more towards being green by reducing or eliminating fuel consumption, Volvo is starting to show some interest, especially in Formula E.
"As for the FIA's new all-electric single seater category Formula E, however, Visser admitted Volvo is interested."
"Manufacturers have been invited to develop alternate powertrains for season two of the series, and although motorsport.com believes that Volvo is not one of those who are going to join for the 2015/16 season, it is in the mix for future years."
According to Visser, Formula E is under consideration at Volvo:
"We have looked at this. There is no decision, but it's definitely something we are thinking about."
"The audience figures and press coverage is still quite limited but this is a motor racing concept that I absolutely believe can grow."
"We follow the series very carefully and have done some deep analysis but are yet to take a decision. When you have a limited budget to spend, one must consider carefully where you invest that money."
"In comparison to other motorsports, Formula E is much better value for money."
Next year, when Formula E is open to manufacturers to develop their own powertrain, we expect at least 6 new makes to come onboard.