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Volvo Cars swings into loss on electric vehicles, tariffs
Commercial EV, Electric Car, Electric Fleet July 17, 2025 Buffy Pepper Comments: 0

Volvo Cars swings into loss on electric vehicles, tariffs

High costs for EV development and US tariffs are hurting Volvo’s bottom line. Photo: Nicolas TUCAT / AFP/FileSource: AFP Volvo Cars announced on Thursday it had swung into loss in the second quarter, after it took an impairment charge for its electric cars, booked restructuring charges and dealt with a slower, tariff-troubled market. The net loss of 8.1 billion kronor ($830 million) was due to a 11.4-billion-kronor writedown in the value of its EX90 electric SUV and ES90 electric sedan due...
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Sweden’s Volvo Cars scraps plan to only sell electric vehicles by 2030
Commercial EV, Electric Car, Electric Fleet September 4, 2024 Sam Meredith CNBC Comments: 0

Sweden’s Volvo Cars scraps plan to only sell electric vehicles by 2030

Swedish automaker Volvo Cars on Wednesday abandoned its near-term goal of only selling electric vehicles, citing a need to be “pragmatic and flexible” amid changing market conditions and cooling demand. Volvo Cars, which is owned by China’s Geely Holding, had been among the first legacy carmakers to promise a complete switch to EVs. The firm said it’s long-term aim remains to become a fully electric carmaker. However, the company announced that by 2030 it now aims for between 90% to...
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Commercial EV, Electric Car, Electric Fleet July 19, 2024 Joan Noren Comments: 0

Volvo Cars warned that potential EU tariffs on electric vehicles from China will hit sales of one of its flagship models, the EX30 SUV.

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