Vetted by NeuralPress's Multi-Agent Verifier for strict factual validity and event relevance. Our compliance engine cross-checks and filters search results to ensure zero false correlations or misleading content.
Primary Sources
Volvo Car to build EVs in US despite Trump's tax reversal, says CEO ...
Volvo Car AB is a Sweden-based automotive brand. Volvo Car Group is focused on the design, engineering, manufacturing, distribution and sale of passenger cars, with particular focus on sustainability, fully electric cars and direct consumer relations, including subscription and other new mobility services. Volvo Car Group’s addressable market is the global premium passenger car market. Moreover, the Company’s intention is to be a pure electric car company and as a result it is undergoing a shift in its business model to a direct sales model in most of its markets. Volvo Cars’ commitment to electrification also results in the launch of Polestar, a progressive stand-alone electric performance car brand, in which Volvo Cars owns shares. Volvo Cars also holds shares in the automotive brand LYNK&CO, which focuses on young open-minded urban people through a flexible customer offering. Employees 42,538 Calendar
Volvo is open to building Chinese EVs in America, CEO says
Volvo CEO Håkan Samuelsson said Western automakers faced "huge competition pressure" from Chinese rivals. James Cheadle/Getty Images 2026-04-29T10:25:24.068Z Volvo's CEO told BI he was open to building EVs from its Chinese parent company, Geely, at its US plant. Håkan Samuelsson said the decision would depend on Geely navigating strict US regulations on Chinese EVs. Geely's top-selling EV costs about $9,700 in China, but the company has been blocked from the US by high tariffs. The US is missing out on cheap Chinese EVs, but Volvo is open to changing that. In an interview on Wednesday, Volvo CEO Håkan Samuelsson told Business Insider that the Swedish brand would consider building cars from its Chinese parent company, Geely, at its factory in South Carolina.Samuelsson cautioned that any discussions would be dependent on Geely successfully navigating the daunting regulatory environment for Chinese vehicles in the US."Assuming that, of course, we could discuss building cars in the plant, as we have capacity," Samuelsson said.Chinese-developed vehicle software and hardware are effectively banned from the US under rules introduced by the Biden administration. Geely, BYD, and China's other EV powerhouses are taking market share from Western automakers in China and Europe by offering a variety of affordable, high-tech electric vehicles.Geely's sales have grown rapidly in recent years on the back of cut-priced EVs like its Galaxy hatchback, which starts at 68,800 yuan ($9,670) in China.However, these companies have been effectively blocked from selling their cars in the US by tariffs of over 100%.Geely executives said earlier this year that China's second-largest automaker, which also owns Western brands Polestar and Volvo, could announce plans to expand into the US in the next two to three years.Building its vehicles at Volvo's plant in Charleston, South Carolina, could be one way of circumventing the sky-high tariffs on Chinese vehicles, although the restrictions on Chinese hardware and software would still be a major barrier. The factory currently produces Volvo's EX90 SUV and the Polestar 3 EV.Last week, The Wall Street Journal reported that Geely had also held talks with Ford about a potential partnership in the US that could include the Chinese company licensing its technology to the Detroit auto giant.Any attempt to bring Chinese EVs to the US would likely face renewed political opposition, with US auto executives warning that a wave of cheap Chinese ...
Volvo Cars' operating profit falls in Q1 - reuters.com
Sweden-based Volvo Cars reported on Wednesday a smaller-than-expected fall in quarterly profit as savings cushioned tough market conditions, but said the impact of a pull-back of subsidies and ...
Volvo CEO on North America market: it will be a gradual recovery and ...
Volvo Cars’ commitment to electrification also results in the launch of Polestar, a progressive stand-alone electric performance car brand, in which Volvo Cars owns shares. Volvo Cars also holds shares in the automotive brand LYNK&CO, which focuses on young open-minded urban people through a flexible customer offering. Employees 42,538 ...
