The future of Volvo Cars

Samuelsson: "Europe needs to step up"

Volvo Cars’ outgoing CEO, Håkan Samuelsson, wants to see stronger mechanisms to protect the EU automotive industry against competition from China. Speaking to EFN, he notes, among other things, that he fully understands the need for the EU to employ protective tariffs.

At the same time, Samuelsson argues that Europe faces numerous challenges and that the industry must realize it cannot back into the future. For instance, he suggests that Germany needs to consider whether a 35-hour workweek is sufficient and questions whether we can afford to work from home to the extent we currently do.

"I believe it is time for Europe to step up and do the right things," he says.

Volvo Cars CEO: I’m leaving soon – announcement expected before year-end

Volvo Cars CEO Håkan Samuelsson will leave the company, he announced at Thursday’s Capital Markets Day, according to DI and EFN.

Samuelsson’s contract expires in April, though the exact timing of the handover remains unclear. The board is working on a solution and evaluating several options.

"News is coming very soon; an announcement can be expected before the year is out," Håkan Samuelsson told EFN.

Volvo Cars to launch 13 new models

Volvo Cars will launch 13 all-new electrified car models between now and the end of 2030, the automaker stated in a press release ahead of Thursday’s Capital Markets Day.

The new product plan includes seven new cars for Western markets and six new cars for China.

The strategy update also outlines a long-term profitability goal of achieving an EBIT margin exceeding 8 percent while simultaneously generating strong cash flows. "The challenges facing the automotive industry are significant, but our strategy provides a clear answer as to how we will meet them, and our ambition is to be the leading car brand in the premium segment," says CEO Håkan Samuelsson in a separate press release.