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AB Volvo notched a 38% gain in net income as record third-quarter revenue was lifted by stronger truck orders and deliveries.

HANOVER, Germany — Volvo Trucks exhibited an autonomous truck concept that entirely removes the cab from the tractor and highlighted its investments in electric vehicles at the IAA Commercial Vehicles show.

Volvo AG reported second-quarter operating income of $1.4 billion, or 50 cents a share, a 47% increase from $939 million, or 32 cents, in the same period a year ago.

Volvo Trucks North America and FedEx Corp. demonstrated on June 27 a platooning system with three twin trucks on a stretch of Route 540 in North Carolina, one of 10 official test sites for driverless cars designated in 2017 by the U.S. Department of Transportation.

When Volvo Car Group broke ground on its first U.S. assembly plant in 2015, it was a proud proof point for the Swedish automaker’s rebound and global expansion, not a chess move in anticipation of a possible trade war.

Multinational companies likely face “overtaxation” as new tax rules emerge around the world without proper resolution tools in place, the tax chief for AB Volvo said.

Göran Nyberg, the president of Volvo Trucks North America, has moved to Volkswagen AG’s European subsidiary MAN Truck & Bus, spurring Volvo to name a veteran to fill Nyberg’s role on an acting basis.

UD Trucks, a Japanese subsidiary of Swedish truck maker Volvo AB, plans to introduce electric and autonomous trucks within the next two years, joining global rivals in developing driverless technologies to ease a labor shortage.