Volvo Car AB (publ.) designs, develops, manufactures, markets, and sells cars in Sweden and internationally. Its lineup includes battery electric vehicles, plug-in hybrids, mild hybrids, and internal combustion engine cars, as well as SUVs, estates, and saloons. The company also supplies vehicle parts and accessories, and offers maintenance contracts, extended warranties, connectivity, and in-car software services. Founded in 1927 and headquartered in Gothenburg, Sweden, it operates as a subsidiary of Geely Sweden Holdings AB.
Volvo to launch 13 new models by 2030 in bid to improve profitability
Swedish automaker Volvo Cars said on the 17th that it plans to launch 13 new models by 2030. It will roll out six models for the Chinese market and seven for the European and American markets, expanding its lineup in an effort to revive sales. Through this, it aims to raise its EBIT margin from 3.5% in 2025 to above 8%, a long-standing target. The models for Europe and the United States will use Volvo's SPA2 and SPA3 vehicle platforms, while the models for China will be developed jointly with Geely Automobile, which is part of the same group. Chief Executive Officer Håkan Samuelsson said in a statement that this new model launch strategy is based on four distinctive strengths: regionally tailored product development, a leading position in electrification, synergies with Geely, and comprehensive customer services that go beyond the car itself.
Volvo Cars to become Lynk & Co's exclusive European distributor from 2027
Volvo Cars has finalised an agreement with its parent company Geely Auto to become the exclusive distributor for the Lynk & Co new energy vehicle brand in Europe starting in January 2027. The deal follows a preliminary agreement signed at the end of March, and Volvo will take responsibility for Lynk & Co's commercial operations across Europe from the beginning of next year, using its own retailers and service network to distribute the vehicles. Volvo Cars said it will maintain clear brand differentiation with Lynk & Co while broadening its total consumer base and increasing sales and servicing business for its retail partners. Volvo Cars chief commercial officer Erik Severinson said the partnership combines Volvo's commercial infrastructure with Lynk & Co's brand and product proposition, while Lynk & Co International CEO Mo Wang said the two will work closely to turn the partnership into sustainable long-term growth. The business with Lynk & Co will be led by Martin Persson, reporting directly to Severinson, and Lynk & Co will continue to design, develop and certify its global product portfolio as part of the Geely Auto Group.
Geely's Galaxy TT EV launches in China at about $19,170
Geely Auto's Galaxy brand launched the Galaxy TT electric sedan in China on Sept. 10 at a limited-time starting price of 129,900 yuan, or roughly $19,170, according to CnEVPost. The entry version carries a 63.8-kWh lithium iron phosphate pack from CATL and delivers 640 km of range on the China Light-Duty Vehicle Test Cycle, with every trim in the lineup shipping an 800-volt architecture and 6C fast charging that moves the battery from 10% to 80% in about 11.8 minutes. The launch price landed 16,000 yuan below the August pre-sale figure, and the entry trim gained 100 km of range, while rear-drive models produce 245 kW, or 329 horsepower, and reach 100 km/h in 6.5 seconds. The sedan will not reach U.S. buyers: a China-built car faces a 2.5% base duty, the 100% Section 301 tariff imposed in 2024 and the 25% Section 232 tariff applied in 2025, landing a $19,170 sedan closer to $43,600 at the port, and the Commerce Department's Connected Vehicle Rule blocks cars with meaningful Chinese ownership or software ties starting with the 2027 model year. Geely-controlled Polestar said the Commerce Department declined its authorization covering new model variants from the 2027 model year onwards, while Volvo Cars, also controlled by Geely, was cleared in May after reworking how its vehicle data is governed and routed. Geely's exports rose 205% year over year in August to 110,094 vehicles, roughly 41% of total sales, while domestic volume fell about 25%, according to CnEVPost.
Polestar Automotive Holding UK reported record first-half retail sales but lowered its full-year volume outlook amid pricing pressure and a US regulatory setback. The electric-vehicle maker said retail sales reached 30,423 vehicles in the first half, yet it now expects only low- to mid-single-digit volume growth for the full year. CEO Michael Lohscheller cited intensifying competition, pricing pressure, and the US Department of Commerce's denial of Polestar's application to sell model-year 2027 vehicles in the US under the Connected Vehicle Rule. The company will not appeal and will continue selling model-year 2026 vehicles in the US, but CFO Jean-François Mady said the restructuring triggered estimated material adjustments of $130 million. First-half revenue fell 4% to $1.36 billion, with a net loss of $842 million, while second-quarter retail sales slipped 4% to nearly 17,300 vehicles. Polestar ended June with $888 million in cash, and Geely Sweden and Volvo Cars converted about $640 million of loans into equity, with Volvo extending its remaining $660 million loan to December 2031.
Volvo to Close Stockholm Office, Consolidate at Headquarters
Swedish luxury carmaker Volvo Cars announced on the 31st that it will close its Stockholm office and transfer operations to its Gothenburg headquarters as part of cost-cutting and efficiency measures. Currently, 450 people work in Stockholm. Volvo, which is majority-owned by China's Geely Automobile, had last year announced plans to cut 3,000 jobs, mainly white-collar workers, amid a tough market environment due to weak demand and trade uncertainty. Volvo explained that consolidating domestic operations would reduce business complexity, accelerate cross-functional collaboration, and improve competitiveness. The Stockholm office, which was established to build expertise in software development, artificial intelligence (AI), and digital customer experience, will be closed on March 1, 2027. The specific number of employees to be cut has not been disclosed at this time.
Polestar Appoints Arek Nowinski to Board of Directors
Polestar has announced the appointment of Arek Nowinski to its Board of Directors, replacing Francesca Gamboni, who is retiring. Nowinski currently serves as Head of Eastern Europe, Middle East, Africa and Asia Pacific at Volvo Cars, bringing significant commercial expertise as Polestar enters a phase of model expansion. Polestar Chair Winfried Vahland thanked Gamboni for her contribution and welcomed Nowinski. The company, listed on Nasdaq under PSNY, operates in 31 markets and plans to introduce several new models through 2028.
U.S. auto industry scrambles to replace Chinese connected-car hardware ahead of federal ban
A federal rule banning certain Chinese connected-vehicle hardware by model-year 2030 is driving a rapid supply-chain shift, with Ohio-based Eagle Wireless scaling up to produce compliant modules. Eagle Wireless, formed in late 2025, expects revenue to nearly double to almost $100 million this year and aims to grow from 140 to 1,000 employees within three years. The company currently licenses module designs from China's Quectel Wireless Solutions but must replace that technology with its own by the 2030 deadline. Automakers face significant cost increases and logistical challenges in purging Chinese components, with some seeking exemptions; Ford Motor has asked to continue importing certain China-produced models, while Volvo Cars received an authorization. Chinese vendors account for nearly half of global automotive cellular IoT module shipments, according to Counterpoint Research.
Volvo Cars posts Q2 profit as US shows signs of recovery, China remains weak
Volvo Cars reported a second-quarter net profit of Skr417 million, swinging from a net loss of Skr8.10 billion a year earlier, as the US market began to stabilise and cost savings took hold. Quarterly revenue fell to Skr77.67 billion from Skr93.49 billion in the same period of 2025, while operating income reached Skr826 million compared with a loss of Skr9.95 billion. The Geely-owned carmaker said it had delivered Skr5 billion in targeted full-year cost savings six months ahead of plan, partly through a headcount reduction of around 3,000 roles. Fully electric vehicles made up 25% of sales, up from 21%, and electrified models including plug-in hybrids accounted for 52%, up from 44%. The company expects markedly stronger sales in the second half of the year, driven by growth in Europe and ongoing US recovery, even as conditions in China remain difficult.
Lotus Emeya Sets New EV Lap Record at Sepang Circuit
Lotus Technology Inc. has set a new benchmark for electric vehicle performance with its Lotus Emeya hyper-GT, which completed a lap at Malaysia's Sepang International Circuit in 2:20.317, surpassing the previous best EV lap time at the circuit by over seven seconds. The achievement highlights advancements in high-performance electric mobility on a track known for its combination of high-speed straights and challenging corners. Elsewhere in the market, Great Wall Motor rose 5.2% to HK$9.11, while Volvo Car AB fell 10.8% to SEK18.87 after reporting strong second-quarter 2026 earnings with improved net income despite a sales drop. Tesla finished at $380.84, down 2.6%.
Volvo Car CEO Rejects Navarro's 'Pirate' Label for Chinese Automakers
Volvo Car CEO Hakan Samuelsson pushed back against White House trade adviser Peter Navarro's criticism of Chinese automakers, saying they have prospered through effective strategy rather than unfair competition. Samuelsson said Navarro's description of BYD as 'plundering global car markets' goes a bit too far, and that Chinese manufacturers have done a lot of things right, pointing to their deep vertical integration in batteries, software and the broader automotive value chain. He added that companies like BYD and Volvo's majority owner Zhejiang Geely Holding Group should be considered among the new industry leaders alongside traditional players such as Audi, BMW and Mercedes-Benz. The comments came after Navarro published a commentary accusing Europe of dithering while Chinese carmakers gain market share, singling out BYD as a microcosm of China's pirate business model.
Polestar Q2 2026 retail sales fall 4% amid U.S. market ban
Polestar reported second-quarter retail sales of 17,296 cars, a 4% decline from 18,026 vehicles in the same period last year, as the Swedish electric vehicle maker faces a ban from the U.S. market starting with the 2027 model year. For the first half of 2026, retail sales totaled 30,423 cars, up 0.4% from 30,289 in the first half of 2025. Excluding a subset of sales the company tracks separately, the half-year figure rose 3.1% to 28,562 vehicles, while second-quarter sales on that basis fell 3.9% to 16,175 cars. CEO Michael Lohscheller said the retail network now stands at 235 sites, a 39% increase year-over-year, and noted that first customer deliveries of the Polestar 5 are set to start while production of the Polestar 4 SUV has begun with first deliveries expected in the fourth quarter. The U.S. market exit stems from the Commerce Department's Connected Vehicle Rule restricting vehicles with Chinese software or hardware, and while sister brand Volvo Cars received authorization to continue U.S. sales, Polestar's request was denied. Existing U.S. stock of the Polestar 3 and Polestar 4 will remain available for purchase, and customers will retain access to the service network. The company announced its U.S. exit in late June, noting that 94% of first-quarter retail sales came from outside the U.S., and its stock fell more than 13% on the day of that announcement. Polestar posted a first-quarter net loss of $383 million, more than double its $166 million loss a year earlier, as tariffs and pricing pressure drove its gross margin to negative 3.2% from positive 10.3%.
Polestar forced to halt US sales from 2027 model year under connected-vehicle rule
Polestar said the Trump administration is forcing it to stop selling vehicles in the United States beginning with the 2027 model year after the Commerce Department denied authorization under the Connected Vehicles Rule. The rule, adopted in January 2025 and kept in place under President Trump, restricts import and sale of cars with connected-vehicle technology linked to China over national security concerns. The Sweden-based company, majority-owned by China's Geely Holding, said it will continue selling existing Polestar 3 and Polestar 4 vehicles in the U.S. and will not appeal the denial. Polestar had warned in 2024 that the rule would effectively prohibit its U.S. sales, and it has increasingly pivoted toward Europe, which accounted for 78% of first-quarter sales compared with just 6% from the United States. The decision raises questions about the future of the Polestar 3, its only U.S.-manufactured model, which Volvo Cars had planned to consolidate at its South Carolina plant.
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