Latest news with #Gothenburg-based
TimesLIVE
4 days ago
- Automotive
- TimesLIVE
Volvo will start building its XC60 in the US next year
Sweden's Volvo Cars said on Wednesday it would start producing its XC60 mid-size SUV in its plant in South Carolina in the US from late 2026. The shift highlights the carmaker's exposure to US President Donald Trump's car tariffs as it imports most of its hybrid and electric models from Europe. XC60 sales in the US rose by nearly 23% in the first six months of 2025, the Gothenburg-based company said, adding the model was most popular among US customers. Volvo Cars, owned by China's Geely Holding, said earlier this week it was booking an impairment charge of 11.4-billion crowns (R20,894,913,000) in the second quarter related to its ES90 and EX90 models due to tariffs and launch delays.
TimesLIVE
04-07-2025
- Automotive
- TimesLIVE
Volvo pushes back large scale production at new Slovak plant to early 2027
Volvo Cars has pushed back large scale production at its factory under construction in Slovakia to early 2027 from 2026 to optimise the Swedish carmaker's product launch timeline, a spokesperson said on Thursday. The spokesperson said the decision was not made recently, but declined to comment on when it was taken. The Gothenburg-based company, owned by China's Geely Holding, has not publicly stated which car will be produced at the plant in Kosice, but said on Tuesday it would be a next-generation Volvo model. Earlier on Thursday, Polestar, also owned by Geely, said it would start producing its Polestar 7 SUV at the Kosice plant in 2028. The plant is expected to have an annual production capacity of 250,000 cars. In April, shortly after returning as the CEO of Volvo Cars, Hakan Samuelsson said the carmaker was reviewing which cars it intended to produce at the factory, and it would prefer to also build cars for other Geely brands there, such as Polestar. Sharing the plant would "be good for us because it's a cost that has to be carried with production volume in the factory," Samuelsson told analysts in April. Samuelsson has made a number of big changes and cuts at the Swedish carmaker, including cutting 3,000 white collar jobs, launching a cost-cutting programme and slowing down investments. The Swede, who ran Volvo for more than a decade until 2022, has been clear he wants Volvo to become closer to the other Geely brands and use their supply chain to save costs.
Time of India
04-07-2025
- Automotive
- Time of India
Volvo Cars pushes back large-scale production at new Slovak plant to early 2027
Volvo Cars has pushed back large-scale production at its factory under construction in Slovakia to early 2027 from 2026 to optimise the Swedish automaker's product launch timeline, a spokesperson said on Thursday. The spokesperson said the decision was not made recently, but declined to comment on when it was taken. The Gothenburg-based company, owned by China's Geely Holding , has not stated publicly which car will be produced at the plant in Kosice, but said on Tuesday it would be a next-generation Volvo model . Earlier on Thursday, Polestar, also owned by Geely, said in a separate statement that it would start producing its upcoming Polestar 7 SUV at the Kosice plant in 2028. The plant is expected to have an annual production capacity of 250,000 cars. In April, shortly after returning as the CEO of Volvo Cars, Hakan Samuelsson said the automaker was reviewing which cars it intended to produce at the factory, and that it would prefer to also build cars for other Geely brands there, such as Polestar. Sharing the plant would "be really good for us because, at the end, it's a cost that has to be carried with production volume in the factory," Samuelsson told analysts in April. Back at the helm, Samuelsson has made a number of big changes and cuts at the Swedish automaker, including cutting 3,000 white-collar jobs, launching a cost-cutting programme and slowing down investments. The Swede, who ran Volvo for over a decade until 2022, has been clear that he wants Volvo to become closer to the other Geely brands and utilise their supply chain in an effort to save costs.
Business Recorder
03-07-2025
- Automotive
- Business Recorder
Volvo Cars delays scale production at new Slovak plant to early 2027
STOCKHOLM: Volvo Cars has pushed back large-scale production at its factory under construction in Slovakia to early 2027 from 2026 to optimise the Swedish automaker's product launch timeline, a spokesperson said on Thursday. The Gothenburg-based company, owned by China's Geely Holding , has not stated publicly which car will be produced at the plant in Kosice, other than saying it will be a next-generation Volvo model. The spokesperson said the decision was not made recently, but declined to comment on when it was taken. Earlier on Thursday, Polestar, also owned by Geely, said it would start producing its upcoming Polestar 7 SUV at the Kosice plant in 2028. The plant is expected to have an annual production capacity of 250,000 cars. In April, shortly after returning as the CEO of Volvo Cars, Hakan Samuelsson said the automaker was reviewing which cars it intended to produce at the factory, and that it would prefer to also build cars for other Geely brands there. Volvo Cars sales fall 12% in June, fully electric tumble 26% 'We need to look a bit closer into possibilities to get in other Geely brands there,' Samuelsson told analysts in April. Sharing the plant would 'be really good for us because, at the end, it's a cost that has to be carried with production volume in the factory.' Back at the helm, Samuelsson has made a number of big changes and cuts at the Swedish automaker, including cutting 3,000 white-collar jobs, launching a cost-cutting programme and slowing down investments.
The Star
17-06-2025
- Automotive
- The Star
Volvo Group, Daimler look to technology joint venture in bid to save costs
FILE PHOTO: President and CEO of AB Volvo Martin Lundstedt stands in front of a Volvo truck, on the occasion of the publication of an interim report, in Gothenburg, Sweden, April 20, 2023. TT News Agency/Adam Ihse/File Photo GOTHENBURG (Reuters) -European truckmaking rivals AB Volvo and Daimler Truck hope to cut costs and reduce reliance on suppliers by jointly developing a software-defined vehicle program, they said on Tuesday. Fleets and truck manufacturers, like automakers, have been racing to produce technology-packed vehicles while also grappling with the need to reduce costs. Truckmakers are currently heavily reliant on suppliers because their software is closely tied to hardware, but Daimler and Volvo's new business - called Coretura - aims to develop a software-defined vehicle platform and reduce that dependence. The companies are looking to create an "industry standard", Daimler Trucks CEO Karin Radstrom told reporters. "We're looking at how we can move from our current reality where we are very much dependent on our suppliers - which drives both cost and sometimes timelines - and instead looking at what's the next generation of software that we need to bring to the vehicle", Radstrom said. The Gothenburg-based venture will employ 50 employees to start, with the hope of first deliveries of its connectivity platform in 2027 and further deliveries towards the end of the decade. "Everything in the vehicle industry is very much oriented around software and controlled by software", said Johan Lunden, a Volvo veteran and the newly appointed CEO of Coretura. Software will play an increasingly vital role in achieving sustainability, productivity, and safety targets in the future, he added. While rivals, Volvo Group and Daimler have collaborated on various businesses in recent years, such as within charging and hydrogen fuel cell development. (Reporting by Marie Mannes in Gothenburg and Jesus Calero in Gdansk; Editing by Matt Scuffham)
