In a cyberattack, hackers stole research and development data from Volvo Cars’ computers, the Swedish automaker revealed on Friday.
Volvo, which is controlled by China’s Geely, said “has become aware that one of its file repositories has been illegally accessed by a third party,”
Volvo added “Investigations so far confirm that a limited amount of the company’s R&D property has been stolen during the intrusion,”
Volvo warned that “there may be an impact on the company’s operation” from the cyberattack which caused its shares to drop 3.5% in Stockholm, to 72.44 kronor ($8.00, 7.06 euros).
Volvo added that there was likely no “impact on the safety or security of its customers’ cars or their personal data”.
Goteborg-based Volvo is investing heavily in electrifying its complete lineup by 2030.
According to an spokesman who told AFP, Volvo has not been targeted by ransomware and retains 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 elaborate on the conversation.