Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

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: 16 July 2024, 15:08

» Published: 09 June 2024

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

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
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

New French obstacles for Airbnb
1 MIN READ

New French obstacles for Airbnb

The Government Seeks Support for Those Affected by Northvolt
1 MIN READ

The Government Seeks Support for Those Affected by Northvolt

The regional tax will be raised next year
1 MIN READ

The regional tax will be raised next year

Astra Zeneca's China Chief Arrested by Police
1 MIN READ

Astra Zeneca's China Chief Arrested by Police

More rate cuts - but risk of turmoil with Trump
2 MIN READ

More rate cuts - but risk of turmoil with Trump

Svantesson: Trump's policy may increase inflation
2 MIN READ

Svantesson: Trump's policy may increase inflation

Major Banks Lower Mortgage Rates
1 MIN READ

Major Banks Lower Mortgage Rates

Central Bank Economist: Central Bank Cuts Interest Rate Too Late
2 MIN READ

Central Bank Economist: Central Bank Cuts Interest Rate Too Late

How You Are Affected by Lowered Interest Rates
2 MIN READ

How You Are Affected by Lowered Interest Rates

Thedéen expects turmoil after Trump's victory
2 MIN READ

Thedéen expects turmoil after Trump's victory

Inflation upswing does not threaten interest rate cuts
3 MIN READ

Inflation upswing does not threaten interest rate cuts

The Stockholm Stock Exchange Continues Upwards
1 MIN READ

The Stockholm Stock Exchange Continues Upwards

Most up on Asian stock exchanges
1 MIN READ

Most up on Asian stock exchanges

This is how your wallet can be affected by Trump's victory
2 MIN READ

This is how your wallet can be affected by Trump's victory

Cheerful on Wall Street after Trump win
1 MIN READ

Cheerful on Wall Street after Trump win

Thousand-kronor notes to be picked up when the Central Bank increases the pace
3 MIN READ

Thousand-kronor notes to be picked up when the Central Bank increases the pace

Swish up and running again after disruption
1 MIN READ

Swish up and running again after disruption

Trump's company is soaring on the stock exchange
1 MIN READ

Trump's company is soaring on the stock exchange

Swedish Export Threatened by Trump Victory
2 MIN READ

Swedish Export Threatened by Trump Victory

Sameby's appeal against mining company rejected
1 MIN READ

Sameby's appeal against mining company rejected