2 days ago
Volvo Takes $1.2 Billion Charge Over Tariffs and EV Model Delays
Volvo Car AB is taking an impairment charge of 11.4 billion Swedish kronor ($1.2 billion) due to delays to some of its electric models and the escalating cost of tariffs.
Past development setbacks and duties in the US have hit Volvo's battery-powered models, the EX90 sport utility vehicle and ES90 sedan. The effect of the one-time non-cash charge on net income will be 9 billion kronor in the second quarter, the carmaker said Monday.
