Volvo News
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.
Hakan Samuelsson’s comments, which coincided with President Donald Trump’s tariffs, emphasized that Volvo needs to adapt faster than the competition.
On day one of his second term as the automaker’s CEO, Samuelsson’s focus is on increasing Geely synergies and controlling costs.
Sales of battery electric cars fell 26 percent last month to account for 19 percent of total sales.
Samuelsson's auto industry background is in contrast to outgoing CEO Jim Rowan. He not only revitalized the Volvo brand, but also built a U.S. plant during Trump's first term, something that could prove key now in avoiding U.S. tariffs.
Samuelsson, who steered Volvo to record sales and profits during his decade as CEO, replaces Jim Rowan on a two-year term starting April 1.
Volvo is using new AI techniques to rapidly shorten the time it takes to help its automated driving software learn from real-world events.
