Polestar to become a Dutch company, while keeping its head office in Gothenburg
Car manufacturer Polestar, partly owned by Volvo Cars, is to be reorganized from a Swedish into a Dutch company, Dagens Industri reports.
Cars
Why Volvo Cars’ share price has plunged: Tariffs, Chinese competition and production problems combine in ‘incredibly unfortunate’ timing
European carmakers, with Volvo Cars particularly hard hit, have been struggling. Donald Trump's tariffs, Chinese competition and production disruptions are behind Volvo's collapse. The future still looks quite bright, Handelsbanken automotive analyst Hampus Engellau tells TT.
Cars
Stock Market Set to Open Lower as Investors Assess Quarterly Reports
Futures on IG Markets are trading slightly lower ahead of the last trading day of the week on the Stockholm Stock Exchange. Futures on leading European exchanges are showing a similar trend.
BusinessTop news
Volvo Cars to Cut 2,500 Jobs in Cost-Saving Drive as Losses Mount
Volvo Cars is introducing a new cost-cutting package that will eliminate 2,500 jobs. In Sweden, 2,000 positions will be affected.
Cars
Volvo Deepens Nvidia Partnership to Advance Self-Driving Technology
Volvo is building more Nvidia technology into its cars. The goal is once again to develop self-driving cars, but Volvo’s data is also intended to make Nvidia’s driving system safer. “The collaboration with Volvo is a huge opportunity for us because no company is more rigorous when it comes to driver safety than Volvo,” says Nvidia CEO Jensen Huang.
Technology
Volvo Recalls 234,000 EX30 Electric Cars Over Headrest Safety Risk
Volvo Cars is recalling 234,000 EX30 electric cars worldwide. Around 15,000 car owners in Sweden are affected, according to the automotive website Carup.
Cars
BYD to Open Stockholm Showroom as Swedish Electric Car Market Gains Momentum
The Chinese electric car giant BYD is making a splash in Europe, and in a few weeks, it will open a showroom in central Stockholm. But many Europeans are turning a blind eye. “People have preconceived ideas, even in Sweden,” says Niklas Gustafson, BYD’s country manager in Sweden.
Cars
Polestar Sales Rise 1% in Third Quarter to Best-Ever Q3 Total
Gothenburg-based electric car manufacturer Polestar reports sales of 14,371 cars in the third quarter, up 1 percent from the same quarter last year.
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- CarsVolvo Cars CEO Håkan Samuelsson to step down this spring
- CarsVolvo Cars to launch 13 new models by 2030, including more low-slung cars
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- CarsVolvo Cars to close Stockholm office, 450 employees affected
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- CarsVolvo Cars secures Belgian support package for Ghent factory worth over SEK 1.3 billion
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- BusinessSlight uptrend on the Stockholm Stock Exchange as OMXS index rises 0.2 percent
- CarsVolvo Cars sales fall 5.5 percent in March–May