Volvo Cars returns former boss to provide a “stable hand”

Unlock Digest Editor free

Halef’s roller, FT editor chooses his favorite stories in this weekly newsletter.

Volvo Cars returned former boss Hakano Samuelson to provide a Swedish car owned by Gayli, a “permanent hand” necessary for navigation with geopolitical turbulence and competition.

Samuelsson, Who Turned 74 This Month, Served As The Group’s Chief Executive For A Decade Until 2022. The Company’s Share Price Has Fallen 66 Per Cent In The Past Three Years Under Jim Rowan Slower-Tan-Expected Shift to Electric vehicles.

“The automotive industry is under pressure from many areas,” Samuelson said on Monday, which will start a two-year term on Monday. “I am honored to return to such a decisive moment for Volvo cars.”

Rowen’s sharp resignation happened after he recently warned about reducing profitability and a “very difficult year” for a campaign, partly due to the uncertainty caused by US President Donald Trump’s trade policy. Rowen could not immediately address the comments.

“The industry is likely to be under the highest pressure ever. It’s not only internal problems for Volvo. At this time you have only one chance. You have to play a safe card,” said a man close to the car manufacturer in Gothenburg.

Analysts have said the car manufacturer will be severely affected by 25 percent tariffs, US plans to impose on foreign car imports from April 2 as it is exported from Europe for sale to the United States.

Depending on the tariff level, Volvo Cars said she wanted to increase production in South Carolina. But this may not completely protect it from tariffs, because even locally produced cars, they use a large amount of content that is not the United States. The company is also subjected to a government ban on Chinese electric vehicles in the United States.

To resolve higher EU import tariffs by electric vehicles made in China, Volvo Cars also produce its EX30 EV model at its GHent plant in Belgium as well as in China from this year.

Geli’s founder Eric Lee, who is the chairman of the Volvo Car Council, cited the Samuelson Industrial Depth and the “proven leadership” as a reason for his return.

“When the industry enters the even more complex phase, we believe that its experience and a stable hand is what is needed to strengthen the Volvo Cars,” Lee added.

A person acquainted with the Council thinking, said Volvo cars should be prepared for a “much tougher future” that will require costs, and Samuelson will try to unlock more benefits from Chinese property, including access to cheaper suppliers.

A man close to the company said gels was disappointed with Volvo Car’s assessment even since his original public proposal in Stockholm in 2021, which Samuelson overseen.

In addition to his permanent record, the man said that Samuelson was also popular with both staff and car dealers.

Last year, the Swedish production manufacturer refused to sell only electric cars by the end of the decade.

Volvo cars will also be affected by the EU emission targets as it may lose some of the income it has received from the sale of loans to opponents, which lagged behind it when the carbon emissions were reduced.