EV pledge backtrucks like other car manufacturers did the same
Volvo has revised its plans to move to electric vehicles completely by 2030. This is because others in the industry have been moving in the same way.
Straight Arrow News
Volvo Cars Volcarb.st’s chief executive urged the European Union in an interview with Reuters, claiming that European-made carmakers don’t need protection from US competitors.
Brussels, along with representatives from the automotive industry, spent months trying to convince Washington to lower the 27.5% tariff on European automobile imports.
“If Europe is for free trade, we are a way out and we should first drop to very low tariffs,” Hakan Samuelson said after the company reported second quarter revenue.
US President Donald Trump has threatened to raise tariffs on European Union automobile imports to 30% from August 1, bringing pressure on the BLOC to increase.
Before Trump’s tenure, the US had a 2.5% tariff on European-made cars, while the EU was 10% liable for vehicles imported from the US.
“I think that’s absolutely unnecessary. The European automotive industry definitely doesn’t need to protect it from American car builders,” he told Reuters.
The Volvo car, which is majority owned by China’s Geely Holding Geely.ul, is one of the most exposed European car manufacturers in US tariffs, as most of the cars sold there are imported from Europe.
Volvo announced late Wednesday that it will begin production in the US in the second half of 2026 as a way to ease tariffs on its bestselling Hybrid XC60.
Currently, the South Carolina plant produces only the Polestar 3 and the electric vehicle model EX90, which are struggling to gain traction with US consumers. Reuters reported Wednesday that Volvo has also begun slimming its products in the US.
“These are actions that we control, not only can we have the same opinions as others when it comes to customs duties,” Samuelson said.
Reported by Marie Mans. Edited by Stine Jacobsen and Rachna Uppal
