Economy

The development of electric cars
China's electric trucks are putting pressure on Volvo: "The journey is on"

Competition in the market for electric trucks is intensifying as Chinese manufacturers focus on Europe this year, writes Reuters. BYD, Sany and the startup Windrose are expected to price their vehicles up to 30 percent lower than European competitors.

AB Volvo CEO Martin Lundstedt describes the rivals as "fast, innovative and decisive".

- Full respect - and now the journey is on, he tells the news agency.

Phil Dunne, CEO of the consulting firm Grant Thornton Stax, confirms AB Volvo's image. He says that Chinese manufacturers' rapid development of competitive models has surprised the industry.
 

Political situation in Hungary
Hungary bans all exports of oil, gasoline and diesel

The Hungarian government bans the export of crude oil, 95-octane gasoline and diesel. This was announced by the Minister of Economy Marton Nagy in a post on Facebook after oil prices rose sharply in the wake of the Iran war.

“The government will combat abuse and fraudulent trade vigorously,” he writes.

At midnight, a price cap was also introduced on gasoline (16.4 kronor per liter) and diesel (17 kronor). The price cap applies to all vehicles with Hungarian license plates.

At the same time, 45 days of oil are being released from the country's security reserve.

Swedish arms exports
Historically high arms exports - could increase further

Swedish exports of war material remain at a historically high level and last year the value amounted to 28 billion kronor. This is reported by TT.

The figure comes from the Inspectorate for Strategic Products (ISP), which controls Swedish arms exports, and can be compared with the record price of 29 billion kronor from 2024.

According to ISP Director General Carl Johan Wieslander, it is the security situation and the world's rearmament that is causing the industry to grow.

- Exports can be expected to increase further in light of the major export deals announced during the year, he tells ISP's website.
 

Classic Kockums crane can be brought back to life for shipbuilding

The classic Kockums crane that stood in the port of Malmö for a long time may be allowed to participate in the construction of the Swedish Maritime Administration's new icebreaker worth 3.2 billion, writes Sydsvenskan.

The crane was moved to a shipyard in South Korea in 2002. Its current owner, South Korean Hyundai Heavy Industries, has won the tender for the icebreaker that will be Sweden's largest.

But a competing Finnish shipyard has appealed the tender. The Administrative Court of Appeal in Jönköping is expected to make a decision on the case shortly. The Swedish Maritime Administration hopes to receive a decision in March.

The Kockums crane has not been used in Malmö since the foundation was lifted for the Öresund Bridge and the last shipbuilding in the city took place in 1987.