Latest news with #HåkanSamuelsson
7NEWS
16 hours ago
- Automotive
- 7NEWS
Volvo XC90: Another generation confirmed for popular large SUV
Once slated to be replaced by the all-electric EX90, CEO Håkan Samuelsson has confirmed the Volvo XC90 will enter a third generation. During the company's latest call with investors, the CEO was asked about speculation Volvo would build the XC90 in its Charleston, South Carolina plant in the US from 2028. Given the current car was launched back in 2015, Mr Samuelsson stated 'one day we will need a new XC90'. Unfortunately the CEO didn't provide any further details, simply stating 'there will be more speculation about that before we can say anything more concrete'. For most markets the XC90 is built in Torslanda, Sweden. At present the Charleston plant builds the EX90 and Polestar 3. The XC60, Volvo's most popular model, will be added to the South Carolina factory by the end of 2026. CarExpert can save you thousands on a new Volvo XC90. Click here to get a great deal. The XC90 is no stranger to longer-than-normal lifecycles. The first-generation model (above) launched in 2002, and it took until 2015 before the second-generation version began trundling down the production line. It has since received two facelifts, the first in 2019, and the most recent in 2024. The current facelift is more substantial with a new bonnet, headlights, grille, bumpers, tail-lights, and a dashboard tweaked to incorporate a larger touchscreen. Volvo had hoped this facelift would see the vehicle through to 2030 when the company planned to discontinue production of all cars with internal combustion engines (ICE). The XC90's electric equivalent and eventual successor, the EX90 (below), was revealed in 2022, but didn't enter production until 2024 due to a software issues. According to Mr Samuelsson, production of the EX90 is now ramping up after 'considerable improvements of the software quality'. The company made the commitment to go EV-only in 2021. According to Mr Samuelsson 'the electric market is not growing as fast as we thought some years ago, but it's still growing'. As such, Volvo has subsequently revised its target, hoping to have electrified vehicles – plug-in hybrid and full electric – account for 90 per cent of global sales by 2030. With the petrol engine's sunset pushed off to 2035 or later, in May Volvo launched its first new non-EV model in years: the reborn XC70. Based on Geely's Scalable Modular Architecture (SMA), the XC70 is a long range plug-in hybrid with either a 22kWh or 40kWh battery. It was developed in China as part of Volvo's plan to give its China, Europe and US arms more autonomy. The XC70 (below) is currently only slated for sale in China, but the company has left the door ajar for sales elsewhere stating it will consider 'potential additional markets at a later stage'. In the call with investors, Mr Samuelsson noted long-range plug-in hybrids as a pragmatic solution 'that we will need for some more years than we thought'. He also noted such drivetrains were 'something European consumers will want to have in the future', and that Volvo was 'looking at various possibilities to be in that market segment'. We don't know if he's referring to the new XC70 specifically, or, possibly, hinting the new XC90 will also go down this path. Given the company's need to satisfy Europe's tightening emissions rules, as well as appeal to Chinese consumers who have a growing appetite for long-range plug-in hybrids and extended range electric vehicles (EREV), it seems likely the third-generation XC90 will follow the XC70's template.
Perth Now
16 hours ago
- Automotive
- Perth Now
Volvo XC90: Another generation confirmed for popular large SUV
Once slated to be replaced by the all-electric EX90, CEO Håkan Samuelsson has confirmed the Volvo XC90 will enter a third generation. During the company's latest call with investors, the CEO was asked about speculation Volvo would build the XC90 in its Charleston, South Carolina plant in the US from 2028. Given the current car was launched back in 2015, Mr Samuelsson stated 'one day we will need a new XC90'. Unfortunately the CEO didn't provide any further details, simply stating 'there will be more speculation about that before we can say anything more concrete'. For most markets the XC90 is built in Torslanda, Sweden. At present the Charleston plant builds the EX90 and Polestar 3. The XC60, Volvo's most popular model, will be added to the South Carolina factory by the end of 2026. CarExpert can save you thousands on a new Volvo XC90. Click here to get a great deal. Supplied Credit: CarExpert The XC90 is no stranger to longer-than-normal lifecycles. The first-generation model (above) launched in 2002, and it took until 2015 before the second-generation version began trundling down the production line. It has since received two facelifts, the first in 2019, and the most recent in 2024. The current facelift is more substantial with a new bonnet, headlights, grille, bumpers, tail-lights, and a dashboard tweaked to incorporate a larger touchscreen. Volvo had hoped this facelift would see the vehicle through to 2030 when the company planned to discontinue production of all cars with internal combustion engines (ICE). The XC90's electric equivalent and eventual successor, the EX90 (below), was revealed in 2022, but didn't enter production until 2024 due to a software issues. According to Mr Samuelsson, production of the EX90 is now ramping up after 'considerable improvements of the software quality'. Supplied Credit: CarExpert The company made the commitment to go EV-only in 2021. According to Mr Samuelsson 'the electric market is not growing as fast as we thought some years ago, but it's still growing'. As such, Volvo has subsequently revised its target, hoping to have electrified vehicles – plug-in hybrid and full electric – account for 90 per cent of global sales by 2030. With the petrol engine's sunset pushed off to 2035 or later, in May Volvo launched its first new non-EV model in years: the reborn XC70. Based on Geely's Scalable Modular Architecture (SMA), the XC70 is a long range plug-in hybrid with either a 22kWh or 40kWh battery. It was developed in China as part of Volvo's plan to give its China, Europe and US arms more autonomy. The XC70 (below) is currently only slated for sale in China, but the company has left the door ajar for sales elsewhere stating it will consider 'potential additional markets at a later stage'. Supplied Credit: CarExpert In the call with investors, Mr Samuelsson noted long-range plug-in hybrids as a pragmatic solution 'that we will need for some more years than we thought'. He also noted such drivetrains were 'something European consumers will want to have in the future', and that Volvo was 'looking at various possibilities to be in that market segment'. We don't know if he's referring to the new XC70 specifically, or, possibly, hinting the new XC90 will also go down this path. Given the company's need to satisfy Europe's tightening emissions rules, as well as appeal to Chinese consumers who have a growing appetite for long-range plug-in hybrids and extended range electric vehicles (EREV), it seems likely the third-generation XC90 will follow the XC70's template. MORE: Everything Volvo XC90
The Advertiser
16 hours ago
- Automotive
- The Advertiser
Volvo XC90: Another generation confirmed for popular large SUV
Once slated to be replaced by the all-electric EX90, CEO Håkan Samuelsson has confirmed the Volvo XC90 will enter a third generation. During the company's latest call with investors, the CEO was asked about speculation Volvo would build the XC90 in its Charleston, South Carolina plant in the US from 2028. Given the current car was launched back in 2015, Mr Samuelsson stated "one day we will need a new XC90". Unfortunately the CEO didn't provide any further details, simply stating "there will be more speculation about that before we can say anything more concrete". For most markets the XC90 is built in Torslanda, Sweden. At present the Charleston plant builds the EX90 and Polestar 3. The XC60, Volvo's most popular model, will be added to the South Carolina factory by the end of 2026. CarExpert can save you thousands on a new Volvo XC90. Click here to get a great deal. The XC90 is no stranger to longer-than-normal lifecycles. The first-generation model (above) launched in 2002, and it took until 2015 before the second-generation version began trundling down the production line. It has since received two facelifts, the first in 2019, and the most recent in 2024. The current facelift is more substantial with a new bonnet, headlights, grille, bumpers, tail-lights, and a dashboard tweaked to incorporate a larger touchscreen. Volvo had hoped this facelift would see the vehicle through to 2030 when the company planned to discontinue production of all cars with internal combustion engines (ICE). The XC90's electric equivalent and eventual successor, the EX90 (below), was revealed in 2022, but didn't enter production until 2024 due to a software issues. According to Mr Samuelsson, production of the EX90 is now ramping up after "considerable improvements of the software quality". The company made the commitment to go EV-only in 2021. According to Mr Samuelsson "the electric market is not growing as fast as we thought some years ago, but it's still growing". As such, Volvo has subsequently revised its target, hoping to have electrified vehicles – plug-in hybrid and full electric – account for 90 per cent of global sales by 2030. With the petrol engine's sunset pushed off to 2035 or later, in May Volvo launched its first new non-EV model in years: the reborn XC70. Based on Geely's Scalable Modular Architecture (SMA), the XC70 is a long range plug-in hybrid with either a 22kWh or 40kWh battery. It was developed in China as part of Volvo's plan to give its China, Europe and US arms more autonomy. The XC70 (below) is currently only slated for sale in China, but the company has left the door ajar for sales elsewhere stating it will consider "potential additional markets at a later stage". In the call with investors, Mr Samuelsson noted long-range plug-in hybrids as a pragmatic solution "that we will need for some more years than we thought". He also noted such drivetrains were "something European consumers will want to have in the future", and that Volvo was "looking at various possibilities to be in that market segment". We don't know if he's referring to the new XC70 specifically, or, possibly, hinting the new XC90 will also go down this path. Given the company's need to satisfy Europe's tightening emissions rules, as well as appeal to Chinese consumers who have a growing appetite for long-range plug-in hybrids and extended range electric vehicles (EREV), it seems likely the third-generation XC90 will follow the XC70's template. MORE: Everything Volvo XC90 Content originally sourced from: Once slated to be replaced by the all-electric EX90, CEO Håkan Samuelsson has confirmed the Volvo XC90 will enter a third generation. During the company's latest call with investors, the CEO was asked about speculation Volvo would build the XC90 in its Charleston, South Carolina plant in the US from 2028. Given the current car was launched back in 2015, Mr Samuelsson stated "one day we will need a new XC90". Unfortunately the CEO didn't provide any further details, simply stating "there will be more speculation about that before we can say anything more concrete". For most markets the XC90 is built in Torslanda, Sweden. At present the Charleston plant builds the EX90 and Polestar 3. The XC60, Volvo's most popular model, will be added to the South Carolina factory by the end of 2026. CarExpert can save you thousands on a new Volvo XC90. Click here to get a great deal. The XC90 is no stranger to longer-than-normal lifecycles. The first-generation model (above) launched in 2002, and it took until 2015 before the second-generation version began trundling down the production line. It has since received two facelifts, the first in 2019, and the most recent in 2024. The current facelift is more substantial with a new bonnet, headlights, grille, bumpers, tail-lights, and a dashboard tweaked to incorporate a larger touchscreen. Volvo had hoped this facelift would see the vehicle through to 2030 when the company planned to discontinue production of all cars with internal combustion engines (ICE). The XC90's electric equivalent and eventual successor, the EX90 (below), was revealed in 2022, but didn't enter production until 2024 due to a software issues. According to Mr Samuelsson, production of the EX90 is now ramping up after "considerable improvements of the software quality". The company made the commitment to go EV-only in 2021. According to Mr Samuelsson "the electric market is not growing as fast as we thought some years ago, but it's still growing". As such, Volvo has subsequently revised its target, hoping to have electrified vehicles – plug-in hybrid and full electric – account for 90 per cent of global sales by 2030. With the petrol engine's sunset pushed off to 2035 or later, in May Volvo launched its first new non-EV model in years: the reborn XC70. Based on Geely's Scalable Modular Architecture (SMA), the XC70 is a long range plug-in hybrid with either a 22kWh or 40kWh battery. It was developed in China as part of Volvo's plan to give its China, Europe and US arms more autonomy. The XC70 (below) is currently only slated for sale in China, but the company has left the door ajar for sales elsewhere stating it will consider "potential additional markets at a later stage". In the call with investors, Mr Samuelsson noted long-range plug-in hybrids as a pragmatic solution "that we will need for some more years than we thought". He also noted such drivetrains were "something European consumers will want to have in the future", and that Volvo was "looking at various possibilities to be in that market segment". We don't know if he's referring to the new XC70 specifically, or, possibly, hinting the new XC90 will also go down this path. Given the company's need to satisfy Europe's tightening emissions rules, as well as appeal to Chinese consumers who have a growing appetite for long-range plug-in hybrids and extended range electric vehicles (EREV), it seems likely the third-generation XC90 will follow the XC70's template. MORE: Everything Volvo XC90 Content originally sourced from: Once slated to be replaced by the all-electric EX90, CEO Håkan Samuelsson has confirmed the Volvo XC90 will enter a third generation. During the company's latest call with investors, the CEO was asked about speculation Volvo would build the XC90 in its Charleston, South Carolina plant in the US from 2028. Given the current car was launched back in 2015, Mr Samuelsson stated "one day we will need a new XC90". Unfortunately the CEO didn't provide any further details, simply stating "there will be more speculation about that before we can say anything more concrete". For most markets the XC90 is built in Torslanda, Sweden. At present the Charleston plant builds the EX90 and Polestar 3. The XC60, Volvo's most popular model, will be added to the South Carolina factory by the end of 2026. CarExpert can save you thousands on a new Volvo XC90. Click here to get a great deal. The XC90 is no stranger to longer-than-normal lifecycles. The first-generation model (above) launched in 2002, and it took until 2015 before the second-generation version began trundling down the production line. It has since received two facelifts, the first in 2019, and the most recent in 2024. The current facelift is more substantial with a new bonnet, headlights, grille, bumpers, tail-lights, and a dashboard tweaked to incorporate a larger touchscreen. Volvo had hoped this facelift would see the vehicle through to 2030 when the company planned to discontinue production of all cars with internal combustion engines (ICE). The XC90's electric equivalent and eventual successor, the EX90 (below), was revealed in 2022, but didn't enter production until 2024 due to a software issues. According to Mr Samuelsson, production of the EX90 is now ramping up after "considerable improvements of the software quality". The company made the commitment to go EV-only in 2021. According to Mr Samuelsson "the electric market is not growing as fast as we thought some years ago, but it's still growing". As such, Volvo has subsequently revised its target, hoping to have electrified vehicles – plug-in hybrid and full electric – account for 90 per cent of global sales by 2030. With the petrol engine's sunset pushed off to 2035 or later, in May Volvo launched its first new non-EV model in years: the reborn XC70. Based on Geely's Scalable Modular Architecture (SMA), the XC70 is a long range plug-in hybrid with either a 22kWh or 40kWh battery. It was developed in China as part of Volvo's plan to give its China, Europe and US arms more autonomy. The XC70 (below) is currently only slated for sale in China, but the company has left the door ajar for sales elsewhere stating it will consider "potential additional markets at a later stage". In the call with investors, Mr Samuelsson noted long-range plug-in hybrids as a pragmatic solution "that we will need for some more years than we thought". He also noted such drivetrains were "something European consumers will want to have in the future", and that Volvo was "looking at various possibilities to be in that market segment". We don't know if he's referring to the new XC70 specifically, or, possibly, hinting the new XC90 will also go down this path. Given the company's need to satisfy Europe's tightening emissions rules, as well as appeal to Chinese consumers who have a growing appetite for long-range plug-in hybrids and extended range electric vehicles (EREV), it seems likely the third-generation XC90 will follow the XC70's template. MORE: Everything Volvo XC90 Content originally sourced from: Once slated to be replaced by the all-electric EX90, CEO Håkan Samuelsson has confirmed the Volvo XC90 will enter a third generation. During the company's latest call with investors, the CEO was asked about speculation Volvo would build the XC90 in its Charleston, South Carolina plant in the US from 2028. Given the current car was launched back in 2015, Mr Samuelsson stated "one day we will need a new XC90". Unfortunately the CEO didn't provide any further details, simply stating "there will be more speculation about that before we can say anything more concrete". For most markets the XC90 is built in Torslanda, Sweden. At present the Charleston plant builds the EX90 and Polestar 3. The XC60, Volvo's most popular model, will be added to the South Carolina factory by the end of 2026. CarExpert can save you thousands on a new Volvo XC90. Click here to get a great deal. The XC90 is no stranger to longer-than-normal lifecycles. The first-generation model (above) launched in 2002, and it took until 2015 before the second-generation version began trundling down the production line. It has since received two facelifts, the first in 2019, and the most recent in 2024. The current facelift is more substantial with a new bonnet, headlights, grille, bumpers, tail-lights, and a dashboard tweaked to incorporate a larger touchscreen. Volvo had hoped this facelift would see the vehicle through to 2030 when the company planned to discontinue production of all cars with internal combustion engines (ICE). The XC90's electric equivalent and eventual successor, the EX90 (below), was revealed in 2022, but didn't enter production until 2024 due to a software issues. According to Mr Samuelsson, production of the EX90 is now ramping up after "considerable improvements of the software quality". The company made the commitment to go EV-only in 2021. According to Mr Samuelsson "the electric market is not growing as fast as we thought some years ago, but it's still growing". As such, Volvo has subsequently revised its target, hoping to have electrified vehicles – plug-in hybrid and full electric – account for 90 per cent of global sales by 2030. With the petrol engine's sunset pushed off to 2035 or later, in May Volvo launched its first new non-EV model in years: the reborn XC70. Based on Geely's Scalable Modular Architecture (SMA), the XC70 is a long range plug-in hybrid with either a 22kWh or 40kWh battery. It was developed in China as part of Volvo's plan to give its China, Europe and US arms more autonomy. The XC70 (below) is currently only slated for sale in China, but the company has left the door ajar for sales elsewhere stating it will consider "potential additional markets at a later stage". In the call with investors, Mr Samuelsson noted long-range plug-in hybrids as a pragmatic solution "that we will need for some more years than we thought". He also noted such drivetrains were "something European consumers will want to have in the future", and that Volvo was "looking at various possibilities to be in that market segment". We don't know if he's referring to the new XC70 specifically, or, possibly, hinting the new XC90 will also go down this path. Given the company's need to satisfy Europe's tightening emissions rules, as well as appeal to Chinese consumers who have a growing appetite for long-range plug-in hybrids and extended range electric vehicles (EREV), it seems likely the third-generation XC90 will follow the XC70's template. MORE: Everything Volvo XC90 Content originally sourced from:
Yahoo
4 days ago
- Automotive
- Yahoo
Volvo Cars CEO: dual tech for China and the West is new trade reality
Volvo Cars will develop different technologies for products offered to Chinese and Western customers as trade becomes more fragmented, said CEO Håkan Samuelsson on Monday. 'It's our target now to have two versions of software and silicon components, the computer in the car,' he told Euronews at the EVS38 symposium in Gothenburg, Sweden. 'We need to have a Western version and a Chinese version. That's something we just need to live with and adapt to.' Volvo Cars has been headquartered in Gothenburg since its creation in 1927, although the firm has been majority owned by China's Geely Holding Group since 2010. If efforts weren't made to tailor products to different markets, the firm's Chinese R&D could complicate exports to the US, especially as Washington seeks to distance itself from Chinese tech. In January, the Biden administration finalised a rule banning smart cars from China and Russia over concerns linked to potential US data leaks. Some feared that these cars could also be used by foreign states to interfere with the US electric grid or other critical infrastructure. 'We don't see any risk … that we will be using Chinese technology in the US. That will not happen,' said Samuelsson. Related European shares show slight rise despite Iran-Israel crisis, while oil stays high A focus on China and the US In this year's first quarter earnings report, Volvo Cars reported a drop in profits, which it partly blamed on the 'current turbulence in the broader world economy'. New US tariffs of 25% on foreign cars and car parts are notably causing a headache for the firm, dampening consumer appetite as well as raising import costs. In the report, Volvo Cars announced an action plan to improve profitability, 'focusing on the US and China markets, as priorities'. Samuelsson told Euronews on Monday that he wanted to change the firm's approach to the Chinese market, tailoring it to local demands. 'We need to listen more to the local people in the region and adapt to local habits and tastes — and perhaps also have some special cars for the Chinese market,' he said. Related How is the European auto industry responding to Trump's tariffs? Volvo Cars announces that it will be slashing 3,000 jobs to cut costs Samuelsson pointed to the new XC70, an extended-range plug-in hybrid recently announced for Chinese customers, aimed at pulling market share away from competitors like BYD. Volvo Cars' retail sales decreased by 12% year-on-year in China in the first quarter, with electric vehicles and plug-in hybrids accounting for 10% of this total. In the US, Volvo Cars' sales jumped by 8% — potentially linked to tariff frontloading — with electric vehicles and plug-in hybrids making up 28% of that total. Tech restrictions in Europe Although the firm has signalled a desire to focus more on US and Chinese customers, Volvo Cars still relies heavily on the European market. The region represented nearly half of its total sales for 2024, as well as the same proportion of sales in Q1 2025. When it comes to manufacturing these vehicles, some are made on Belgian and Swedish sites, while others are made in China and shipped to Europe. This means that — on certain vehicles — Volvo is exposed to EU duties, introduced last year in response to alleged unfair subsidies from Beijing. 'Tariffs are not going to help the European industry to be more competitive long-term,' said Samuelsson. 'We should have an attitude of free trade and free competition…but realistically that will not happen. I think we're going into a more regional world.' Related Airbus pledges higher dividends as it confirms financial guidance A recent action plan published by the European Commission suggested that Chinese carmakers operating in the EU may be obliged to enter joint ventures with European companies or license parts of their technology. Asked how Volvo Cars would be affected given its ties with Geely, Samuelsson suggested the firm would be untouched, underlining that a significant amount of development is still happening in Europe. 'I don't see any problems with the Chinese technology in our cars in this respect…the software products in the car are to a large extent adapted and developed by Volvo,' he said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
5 days ago
- Automotive
- CNBC
Sweden's Volvo Cars switches gears in the U.S. as tariffs bite
Sweden-based automaker Volvo Cars plans to change tack in the U.S. as Washington's trade tariffs take their toll. Volvo Cars, which is owned by China's Geely Holding, on Thursday reported that second-quarter operating profit excluding items affecting comparability fell to 2.9 billion Swedish kronor ($297.83 million), down from 8 billion during the same time last year. Second-quarter revenue dropped to 93.5 billion kronor, compared to 101.5 billion kronor over the same period in 2024. Volvo Cars, which is widely considered as one of the most exposed European carmakers to U.S. tariffs, said the result reflects an ongoing challenging environment for the automotive industry. The company said it was also impacted by a previously announced one-off non-cash impairment charge of 11.4 billion kronor. The second-quarter earnings come shortly after Volvo Cars launched plans to add its best-selling XC60 sports utility vehicle to the production line of its U.S. car plant in Ridgeville outside Charleston in South Carolina. Production of the XC60, which has been the firm's best-selling model globally for years, is scheduled to start at the factory in late 2026. At the same time, Volvo Cars has started pulling sedans and station wagons from its U.S. portfolio amid waning interest, Reuters reported Thursday. It comes as U.S. tariffs of 27.5% on European-made cars and 100% on EVs imported from China have forced automakers to review their product strategies. Volvo Cars CEO Håkan Samuelsson said the company would "definitely not" pull out of the U.S. market, where it has been present for 70 years. "What we are doing is first of all, we want to fill our factory we have in South Carolina. It should be the strategic asset it was intended to be. So, we have to utilize it more," Samuelsson told CNBC's "Europe Early Edition" on Thursday. "Second, of course, now with the tariffs, it is very natural to bring in a [car model with] big-selling volume. We are bringing in the XC60 SUV," he added.
