Volvo moves production from China to Belgium

Volvo Cars has started moving parts of its Chinese electric car production to Gent in Belgium, reports The Times. This is happening at the same time as the EU is investigating new import tariffs on electric cars from China.

» Updated: July 16 2024

» Published: June 09 2024

Volvo moves production from China to Belgium
Photo: Ng Han Guan/AP/TT

Share this article

Volvo Cars has begun moving parts of its Chinese electric vehicle production to Gent in Belgium, according to The Times. This is happening at the same time as the EU is investigating new import tariffs on electric vehicles from China.

Sources told The Times that, in addition to EX30 production, production of certain models intended for the British market may also be relocated to Belgium.

"We cannot confirm that the reason we will also start producing EX30 in Belgium has anything to do with the introduction of tariffs in the EU. It's too early to speculate on the consequences of this investigation or any potential measures," writes Kristin Boldemann Wester, global PR manager for Volvo, in an email to TT.

Volvo Cars, owned by Chinese Geely, is estimated by analysts to be the Western automaker most severely affected by higher Chinese tariffs.

"The decision to also build EX30 in Gent reflects our ambition to build our cars where we sell them in as large a proportion as possible," writes Kristin Boldemann Wester.

In a budding trade war, the EU is investigating a range of products from China, including suspicions of price dumping and unfair state subsidies. Much of it concerns green technology such as electric vehicles, trains, and equipment for solar energy installations.

A statement from the EU on new tariffs could come this week and, if so, would take effect at the beginning of July.

The US tightened import tariffs on strategically important goods from China in May. For example, the tariff on electric vehicles was increased from 25 to 100 percent.

Earlier this week, Volvo announced that 72,000 EX30s worldwide are being recalled due to a fault on the speedometer screen.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

EU Faces Resistance Over New Mercosur Trade Agreement
3 MIN READ

EU Faces Resistance Over New Mercosur Trade Agreement

Polestar Faces $739 Million Write-Down Amid US Tariffs and Weak Demand
1 MIN READ

Polestar Faces $739 Million Write-Down Amid US Tariffs and Weak Demand

Mediation Institute Ends Efforts in Tesla-IF Metall Dispute
1 MIN READ

Mediation Institute Ends Efforts in Tesla-IF Metall Dispute

Two More Suspects Identified in Major Insider Trading Case
1 MIN READ

Two More Suspects Identified in Major Insider Trading Case

Ryanair's New Bonus Program Criticized by German Cabin Union
1 MIN READ

Ryanair's New Bonus Program Criticized by German Cabin Union

SEB Predicts Halved Food VAT Could Lower Prices and Inflation
2 MIN READ

SEB Predicts Halved Food VAT Could Lower Prices and Inflation

Swedish Service Sector Sees Fragile Recovery in August
1 MIN READ

Swedish Service Sector Sees Fragile Recovery in August

Boliden Leads Gains as Stockholm Stock Exchange Rises
1 MIN READ

Boliden Leads Gains as Stockholm Stock Exchange Rises

Air Travel Rises 5% in August as Swedavia Airports See Growth
1 MIN READ

Air Travel Rises 5% in August as Swedavia Airports See Growth

Nordea Predicts Interest Rate Hikes by 2027, Contrasts Danske Bank's Forecast
4 MIN READ

Nordea Predicts Interest Rate Hikes by 2027, Contrasts Danske Bank's Forecast

Klarna's New York IPO: Analyst Calls It a High-Risk Stock
3 MIN READ

Klarna's New York IPO: Analyst Calls It a High-Risk Stock

Stock Market Volatility Follows Xi's Speech Amid Military Parade
1 MIN READ

Stock Market Volatility Follows Xi's Speech Amid Military Parade

Google Retains Chrome in Partial Legal Victory
2 MIN READ

Google Retains Chrome in Partial Legal Victory

Wall Street Opens September with Losses Across Major Indexes
2 MIN READ

Wall Street Opens September with Losses Across Major Indexes

Saab Partners with Polish WB Group for Defense Collaboration
1 MIN READ

Saab Partners with Polish WB Group for Defense Collaboration

Two Companies Sue LKAB for 700 Million Kronor Over Mine Expansion
1 MIN READ

Two Companies Sue LKAB for 700 Million Kronor Over Mine Expansion

Klarna Heads to NY Stock Exchange but Swedish Small Investors Must Wait
2 MIN READ

Klarna Heads to NY Stock Exchange but Swedish Small Investors Must Wait

Klarna Plans New York Stock Exchange Listing with $13.6 Billion Valuation
3 MIN READ

Klarna Plans New York Stock Exchange Listing with $13.6 Billion Valuation

Kraft Heinz to Split into Two Separate Companies
1 MIN READ

Kraft Heinz to Split into Two Separate Companies

Euro Zone Inflation Rises to 2.1 Percent in August
1 MIN READ

Euro Zone Inflation Rises to 2.1 Percent in August