Volvo has experienced a cyber attack and data theft that could have a strong impact on the company

The Swedish car maker’s brand, Volvo, has been attacked by the theft of confidential data that may have an impact on the company’s business.

This data relating to the research and development of its products has been stolen from Volvo and may be related to industrial espionage.

The attack may have stolen important data from the cars of the future
in a a permitVolvo is providing some information about the attack, but has not yet been able to detail the entire operation.
By company:

Volvo Cars has learned that one of its file repositories has been illegally accessed by a third party.  Investigations so far confirm that a limited portion of the company's research and development property was stolen during the raid.  Volvo Cars concluded earlier today, based on available information, that there may be an impact on the company's business.
After discovering the unauthorized access, the company immediately implemented security countermeasures, including measures to prevent further access to its property and notified the relevant authorities.
Volvo Cars conducts its own investigation and works with third-party experts to investigate property theft.  The Company, with the information currently available, does not consider this to have an impact on the safety or security of its customers' vehicles or their personal data.










Volvo: The secret is the lifeblood of the company...
However, this statement is not primarily specific in relation to the phrase “impact on company operations”.
This could mean almost anything from something as important as a delay in the development of a Volvo, or it could just be a brief safety failure.
However, automakers zealously guard their development secrets, because lifetime nondisclosure agreements are a routine for many employees.
These aren't state secrets, exactly, but automakers have told themselves for decades that research and development is the special sauce, and Volvo is no different.