The company, which had bet heavily on electric vehicles, said the removal of consumer incentives for EVs in the US under President Trump had also hit its margins.
In 2024, Volvo Cars dropped a plan to transition to exclusively EV sales by the end of the decade.
US Tariffs, China Competition: Volvo Cars To Cut 2,500 Jobs, Most In Sweden
Oct 23, 2026 | 4:19 AM
