Volvo News
Hakan Samuelsson says the new model is likely to be an SUV, but he will meet with U.S. dealers to get feedback before Volvo makes a final decision.
Could there be a better time to be a lawyer representing auto suppliers in contract disputes?
Volvo also plans to expand production at its underutilized U.S. factory with a high-volume plug-in hybrid model.
The automaker will not provide financial guidance for this year and 2026 as it fights tepid EV demand and trade tensions, including tariffs, weighing on the auto industry.
The first European-built EX30 EVs have started to roll off Volvo's production line in Belgium, easing some of the tariff burden. But Volvo boss Hakan Samuelsson still has plenty of other headaches to manage.
The automaker is overhauling its top management after the return of former CEO Hakan Samuelsson to the top job last month.
Many Western brands continue to struggle in China as domestic automakers and startups field more competitive EVs with smart features, often at lower prices.
Volvo Car USA President Mike Cottone said the shift to regionalization makes it easier for the brand to control its own destiny in the U.S.
Polestar CEO Michael Lohscheller said the automaker, which is part of billionaire Li Shufu’s auto empire, has decided on a different setup in the world’s largest auto market.
Volvo said it is ramping up output of the electric EX90 crossover at its Ridgeville, S.C., plant and possibly adding production of another model there.
