Automotive industry: Volvo issues challenge to BMW and Mercedes: "Want to be the leading electric premium manufacturer"
After significant losses, the Swedes are planning a model offensive. Company CEO Samuelsson has set ambitious targets - and is counting on Chinese parent company Geely.
Volvo plans to launch 13 new models by the end of 2030 to recover from its crisis, aiming to double its market share. The Swedish carmaker, led by Hakan Samuelsson, currently has a market share of just under 1%, having sold around 710,000 vehicles last year. Volvo targets an EBIT margin of at least 8%, with the goal of becoming the leading premium electric vehicle manufacturer. The company will develop seven new models for western markets, including the US, and six for China, in collaboration with its parent company Geely.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
