Overview

• The company swung to an 8.1 billion-kronor net loss in Q2 after an 11.4 billion writedown on its EX90 and ES90 electric models and restructuring charges
• U.S. duties of 27.5% on European imports and over 100% on Chinese cars have led Volvo to withdraw sedans and wagons and sell only SUVs in America
• CEO Håkan Samuelsson publicly urged the European Union to drop its 10% tariff on U.S.-made cars in order to encourage reciprocal cuts from Washington
• Volvo’s Ridgeville, South Carolina plant currently produces the EX90 and Polestar 3 and will add XC60 hybrid assembly in late 2026 as a tariff mitigation measure
• Despite a capacity of up to 150,000 units, the EX90 electric SUV sold fewer than 2,000 vehicles in the U.S. during the first half of 2025