Volvo May Make Some Cars in US to Avoid Tariffs
Volvo Cars may move production of some of its models to the U.S. depending on tariffs, but aims to stick to a plan to export its European-made EX30 SUV model to the United States later this year, the company's CEO said Wednesday.
Volvo Cars last year moved production of its EX30 electric vehicles from China to Europe to avoid European Union tariffs.
The expectation President Donald Trump's return to the White House will mean more tariffs could require further adaptation.
Production of the SUV in Europe is set to begin this quarter and Volvo's plan is to increase production in the coming months to serve both the European and U.S. markets in the second half of 2025, CEO Jim Rowan told Reuters.
Exports of cars from Europe to the U.S. are only subject to a 2.5% tariff for now, but that is likely to change.