Swedish car maker Volvo, owned by Geely ( China ), said on December 11 that one of its file repositories had been illegally accessed by a third party.
According to Topmostpopular , Volvo says the data stolen from the cyberattack is research and development data from its systems. Investigations to date confirm that a limited amount of the company’s R&D assets were stolen during the break-in.
Volvo warned the incident could impact the company’s operations, sending Volvo shares down 3.5% on the Stockholm exchange to $8. However, the company added that there is likely to be no impact on the safety or security of customers’ cars or personal data.
A company spokesman told AFP it was not attacked by ransomware and still has full control over its data.
He added that a third party contacted Volvo recently about the theft but did not give any details about the exchange.
Volvo Cars split from truck maker Volvo Group in 1999 before being acquired by Geely in 2010.