Volvo Cars is aiming at a 40% reduction in the carbon footprint of every car it manufactures by 2025 as it bids to become fully climate neutral by 2040, it stated on Wednesday. The company wants to reach the 2025 targets through a string of measures, such as generating 50% of worldwide sales from fully […]
Volvo
Volvo Cars is slashing several hundred jobs
Volvo Cars is cutting several hundred jobs according to Swedish radio, which cited sources for the information. The automaker, whose amount of workers has more than doubled during the past decade to about 43,000, confirmed it was revisiting staff and other costs to make sure its business had the “right skills”. “As a growing company, […]
Volvo Offers Post-Crash Guidance to Traumatized Owners via ‘Advisor’ App
To be honest, it is quite satisfying to see Volvo, the famous Swedish automaker, actually caring about its customers by striving to ensure their complete safety on the roads. Human life is a single-tracked essence, after all, and it is a shame to see it so easily wasted on roadside crashes and accidents. According to […]
Volvo Cars warn of pulling electric cars out of the US
Volvo Cars, owned by Zhejiang Geely Holding in China, is not going to sell its all-electric Polestar models in the United States if the company has to deal with tariffs on exports from China, the Financial Times reported on Wednesday. “The business case for bringing the car to the U.S. is highly relied on the […]
Volvo to control car speeds in bid for zero fatalities
Volvo Cars stated on Monday it will release a 180 km per hour (112 mph) speed limiter on all recent vehicles as the Swedish automaker looks to smooth its safety credentials and meet a promise to remove passenger fatalities by 2020. While Volvo, whose XC90 flagship SUV presently has a top speed of 212 km/h, […]
Volvo announces Polestar 2, aimed to compete with Tesla Model 3
Tesla is seeing another potential competitor in the electric vehicle market. Polestar, Volvo’s standalone electric vehicle brand, is revealing its Polestar 2 model, a five-door car that will have two electric motors. According to the company, the car is aimed to travel up to 275 miles on a single charge with its 78kWh battery. With […]
Volvo raises $215 million in bond issue months following failed IPO
Sweden’s Volvo Cars has raised some 2 billion Swedish crowns ($215 million) in a bond issue just five months after the Chinese-owned carmaker terminated plans for a stock market flotation, blaming trade tensions and a downturn in the sector. Carmakers like Volvo face heavy expenditure in developing electric and driverless cars, just as diesel engines […]
Volvo recalls more than 200,000 cars to repair fuel leak issue
Volvo Cars, owned by Zhejiang Geely Holding Group, is voluntarily recalling an estimated of 200,000 cars after it discovered an engineering issue that could potentially result fuel leakage in the engine compartment over time. The group said its investigation had identified that some vehicles may have small cracks within one of the fuel lines in […]
Volvo Cars postpones plan to build Lynk & Co vehicles in Belgium
Volvo Cars has decided to postpone building Lynk & Co branded vehicles at its plant at Ghent in Belgium due to increased macro-economic uncertainty, a spokesman for the Geely-owned Swedish automaker stated on Friday. Lynk & Co, co-owned by Volvo’s owner and its two brands Volvo and Geely Auto, started selling its first model in […]
Volvo prepares to assemble hybrid cars in India from 2019
Volvo Cars thinks about assembling plug-in hybrid variant of its premium SUV XC 90 in India from 2019 Swedish automaker Volvo Cars is thinking about assemble plug-in hybrid variant of its premium SUV XC 90 in India from next year, a top company official stated on Thursday. The company is also preparing to drive in […]
BMW and Volvo to trial new LME steel contracts
European automakers BMW and Volvo prepare to experiment with steel contracts to be introduced by the London Metal Exchange early 2019, a move which could ultimately modify the way the industry hedges and prices contracts, industry sources stated. The LME is introducing three hot rolled coil (HRC) steel futures expanding in Europe, North America and […]
Volvo is not thinking of diesel car retrofits in Germany
Volvo is not thinking of any hardware retrofits for diesel vehicles in Germany, a company spokeswoman stated on Monday, rejecting a report by Germany’s Der Spiegel magazine that included that the Swedish automaker was mulling that option. “They’re drawing the wrong conclusions,” the spokeswoman stated. Volvo is following the discussion in Germany, she stated, including: […]
2019 Volvo S60 Enters Production at New South Carolina Plant
Volvo has made its very earliest car in their US plant located in South Carolina. Units of the 2019 Volvo S60 are now rolling off the line at the new plant. The next-generation midsize sedan is going to arrive in Volvo dealerships in the U.S. this year. Volvo will export 50% of the sedans constructed […]
Volvo Cars seeks U.S. tariff exemption for SUV made in China
Volvo Cars has asked the Trump administration to exempt the company’s Chinese-made mid-size XC60 SUV from new 25 percent tariffs, the most recent automaker to seek relief from new levies on imports from China. The automaker verified on Friday it has sought an exemption with the U.S. Trade Representative’s Office (USTR) for the well known […]
Volvo Cars drops IPO following trade tensions and auto stocks slump
Volvo Cars and its Chinese owner Geely have delayed plans to float shares in the Swedish automaker, putting blame on trade tensions and a slump in automotive stocks. But while Volvo’s strategies for a Stockholm listing were postponed indefinitely, Britain’s Aston Martin decided to push ahead with its own initial public offering. “We’ve come to […]
