Volvo Cars Announces Plan to Launch Thirteen New Vehicles by End of 2030
Volvo Cars has announced plans to launch thirteen new vehicles by the end of 2030, with seven models targeting Western markets and six designed specifically for China. The initiative is part of a broader strategy aimed at doubling market share and achieving an EBIT margin above 8% in the long term. The vehicle lineup will include battery electric, electrified, and third-generation hybrid variants to cater to customers hesitant about fully transitioning to electric vehicles. The company reported improved financial results for Q2 despite declining sales and revenue. Retail sales dropped by nearly 10 thousand units year-over-year, while EBIT turned positive at Skr826m compared to a loss of Skr10.06bn in the previous quarter. Volvo plans to leverage shared platforms with Geely and common components to reduce costs and increase efficiency, aiming for around 30% full component commonality by 2030. Volvo's strategy also includes cost-cutting measures across its value chain and a revised commercial approach focused on transparent pricing and fast delivery. CEO Håkan Samuelsson emphasized the company’s ambition to become the leading premium car brand through regional optimization, electrification, and enhanced efficiency.
Topics: Automotive Electric Vehicles (EVs) Geely Holding Group Market Share Growth