Latest news with #EX90
NDTV
2 hours ago
- Automotive
- NDTV
Volvo Suspends U.S. Car Production Amid Parts Shortage
Volvo Cars has temporarily halted production at its Ridgeville, South Carolina, facility due to a parts shortage. The plant, which produces the EX90 electric vehicle, faced a short shutdown but was able to restart operations soon after fixing the issue. In this article, we will look at the details of the temporary suspension by Volvo. The pause in production was announced on Thursday, and work resumed by Saturday. Volvo explained that the shutdown was caused by a lack of certain components. The EX90 is built in the U.S. but depends on a global supply chain, with 20-25 percent of its parts coming from the U.S. or Canada, 30 percent from Mexico, and another 30 percent from China, while the transmission is made in Sweden. This situation highlights the difficulties automakers encounter with changing trade policies. The revised tariffs set by the U.S. president, Donald Trump, apply a 30 percent tariff on Chinese imports and a 25 percent tariff on foreign auto parts. This increase in tariffs has made supply chains more complicated and raised production costs. In response to these challenges, Volvo announced layoffs affecting approximately 125 employees at the Ridgeville plant, which represents roughly 5 percent of its workforce there. Globally, the company plans to cut 3,000 jobs, primarily in Sweden, as part of a broader cost-reduction strategy aimed at saving nearly 2 billion USD (approximately 16,000 INR). The United States is Volvo's second biggest car market, holding a 16 percent share, with China leading at 20 percent. Additionally, there are reports of a possible ban in the U.S. by 2027 on automakers owned by Chinese companies, which may affect Volvo's future in the U.S.
IOL News
a day ago
- Automotive
- IOL News
Volvo's electric momentum builds on impressive EX30 and EX90 sales in South Africa
The EX30 continues to capture South African hearts while the new EX90 raises the bar, making premium electric driving more accessible and exciting than ever. Known for its strong performance in the electric vehicle segment, Volvo Car South Africa has once again posted successful sales figures for the first four months of the year. The popular EX30 led the way, and the introduction of the new EX90, the brand's range-topping luxury electric SUV, further boosted sales. Between January and April 2025, the Swedish marque delivered 114 electric vehicles to customers, with the EX30 leading the charge at 48 units. Not only is it the best-selling electric Volvo, but the compact crossover remains South Africa's favourite premium EV, outselling similarly-sized rivals from luxury brands. Notably, the top 5 best-selling electric vehicles in South Africa during this period included the XC40 and C40 Recharge, with a combined 36 units in third place, while the all-new EX90 secured fifth place with 30 units. In 2024, Volvo was the best-selling electric vehicle brand in South Africa, with 539 examples delivered to customers last year.
Yahoo
2 days ago
- Automotive
- Yahoo
Production at Volvo Ridgeville facility expected to resume after temporary pause
RIDGEVILLE, S.C. (WCBD) – Production at Volvo's Ridgeville facility is expected to start back this weekend after a temporary pause, officials said Friday. Local production was temporarily paused at the end of last week due to a supply chain issue, according to a Volvo Cars spokesperson. The car manufacturer has been working to resolve the issue and said production is expected to resume this Saturday. U.S. Rep. Jim Clyburn took to X addressing the production pause saying, 'Trump's reckless tariffs are continuing to wreak havoc on South Carolina's economy.' 'Jobs have already been lost, and more are at grave risk. Trump said slowing port traffic was a 'good thing.' South Carolinians know how wrong he is,' he added. The pause comes shortly after Volvo announced plans to lay off 5% of its employees at the Ridgeville site in response to 'changing market conditions and evolving trade policies,' including tariffs. The layoffs are part of a cost and cash action plan introduced by the company, which includes 3,000 global layoffs. Workers at the Ridgeville plant produce Volvo's fully electric EX90 which is 7 seat premium SUV. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
3 days ago
- Automotive
- Yahoo
Volvo suspends production at SC plant citing parts shortages
Volvo Cars has halted production of its battery powered EX90 sport-utility vehicle at the automaker's South Carolina factory due to a parts shortage. (Photo provided by Volvo Cars) Volvo Cars has halted production at its Lowcountry plant because of a parts shortage, highlighting the growing supply chain issues automakers nationwide are experiencing in the wake of President Donald Trump's on-again, off-again tariffs. Volvo, which builds the all-electric EX90 sport-utility vehicle at its $1.2 billion plant in Ridgeville, did not immediately specify the parts involved or say how long the shutdown announced Thursday is expected to last. The carmaker is working with suppliers to resolve the problem and get the factory off Interstate 26 up and running again, according to news reports. The shutdown comes on the heels of Volvo announcing layoffs affecting 5% of the plant's workers, or roughly 100 people, and a global workforce reduction of 3,000 employees, most of them at the automaker's Sweden headquarters. The layoffs are part of nearly $2 billion in cost reductions Volvo is undertaking as tariffs have roiled global trade. The EX90, with a list price of $79,995, is the only vehicle Volvo builds at its South Carolina factory. The company has said it may add production of other vehicles at the Lowcountry site to offset tariffs on imported vehicles, which make up most of Volvo's most popular sellers in the United States. The EX90 is the flagship model in Volvo's pledge to build an all-electric lineup, but its sales have lagged far behind the brand's other gas-powered and hybrid models. Through April, Volvo sold 4,051 EX90s worldwide compared with sales topping 80,293 for its most popular XC60 mid-sized SUV. All told, EX90 sales have made up about 1.8% of Volvo's 231,100 global sales through April. This is a developing story and will be updated.
Yahoo
5 days ago
- Automotive
- Yahoo
Volvo Cars to slash 3,000 workers amid global trade uncertainty
Sweden-based automaker Volvo Cars said it is eliminating 3,000 white-collar jobs at operations around the world as the automotive industry faces supply chain and tariff-related disruptions. The layoffs represent around 15% of Volvo Cars' office staff, with about 2,200 job losses expected to occur in Sweden and the rest in the company's global operations. Volvo Cars has not said where the other workforce reductions will take place. The job cuts announced Monday are part of a $1.88 billion action plan to bolster the company's long-term profitability, officials said.'The automotive industry is in the middle of a challenging period,' Håkan Samuelsson, president and CEO of Volvo Cars, said in a news release. 'To address this, we must improve our cash flow generation and structurally lower our costs.' Volvo Cars said the layoffs will be completed by the end of fall. As of the first quarter, the automaker had 42,600 full-time employees, with white-collar staff making up more than 40% of its workforce, according to its earnings report. Volvo Cars' head office, product development, marketing and administration functions are mainly located in company's car production plants are in Gothenburg; Ghent, Belgium; Charleston, South Carolina; and Chengdu, Daqing and Taizhou, China. The company also has research and development and design centers in Gothenburg and Shanghai. The latest round of layoffs comes after Volvo announced plans to eliminate 5% of its workforce, about 125 workers, at the Charleston factory, according to Reuters. The factory produces the company's EX90 SUV. Volvo Cars is majority-owned by China's Geely Holding. It was sold by Ford Motor Co. to Geely in 2010 for $1.8 billion. Volvo Cars and Volvo Trucks North America are separate entities. The post Volvo Cars to slash 3,000 workers amid global trade uncertainty appeared first on FreightWaves. Sign in to access your portfolio
