Volvo Car returns to the traditional: the CEO (ferry) is Samuelsson | EUROtoday

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Surprisingly, Volvo Cars has determined to vary information in the course of the storm. With fast impact, from April 1, the brand new – certainly, previous – CEO shall be Håkan Samuelsson, 74 years previous, already driving the corporate between 2012 and 2022. A return that is aware of of “Back to Basics”: counting on a automotive veteran to cross a interval marked by world uncertainties, technological slowdowns and rising geopolitical tensions.

Samuelsson will take the place of Jim Rowan, supervisor with a previous within the Tech sector (Dyson within the first place), chosen in 2022 to accompany Volvo within the soar in direction of digitization and electrification. But the context has modified: at the moment skilled palms on the steering wheel are wanted.

It isn’t any coincidence that the President of the Board of Directors, the SHUFU, founding father of the Chinese group Geely, who controls 78.7% of Volvo, wished it once more to the command. “Complex challenges await us – said Li – and a solid industrial guide is needed. Håkan knows the company, the sector, people well ». And in fact, in his first mandate, Samuelsson relaunched the brand and ferry the company to the quotation on the stock exchange in 2021.

Since then, however, the shares have lost almost 70% of their value. And the reasons are not lacking. The United States returned to threaten duties: former president Trump has announced new Balzelli of 25% on imported cars, in force since this week. Volvo, who produces the former in South Carolina, but cares most of his electric and hybrid models from Europe, is particularly exposed. Samuelsson knows these dynamics well: he was already in command during Trump’s first term, when Volvo decided to invest in a US factory to mitigate commercial risks.

But the duties will not be the one knot. The slowdown within the demand for electrical vehicles, particularly in Europe, compelled Volvo to evaluation its bold plans: the objective of changing into a 100% electrical model by 2030 has been put aside. The firm has moved the manufacturing of the previous from China to Belgium to get round European limitations, and solely final month Rowan had warned that 2025 shall be a troublesome 12 months for gross sales and profitability.