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...The UK-Canada disagreement focuses on a relatively small area of trade: while eight out of 10 UK-made cars are exported, Canada accounts for only 1.3 per cent of exports, which are dominated by Jaguar Land...
...Last week, Volvo Cars said it would sell its 48 per cent stake in Polestar to Geely, and would not inject any more funding into the brand. Polestar is seeking about $1.3bn of fresh funding....
...Geely is “much more of a natural holding company” for Polestar, Volvo Cars’ chief executive Jim Rowan told the Financial Times on Thursday....
...Polestar was spun out of Volvo as an EV sports car group and listed in 2022, but new models have been delayed and the company has been hit by the global EV slowdown, pushing its shares down....
...Investors in Volvo Cars have similar worries about the staying power of the carmaker’s new strategy. The company has promised to end production of internal combustion cars by 2030....
...Volvo Cars has halted production at its factory in Belgium after shipping disruption in the Red Sea delayed a delivery of gearboxes to the Swedish carmaker....
...We are already seeing a determined drive by companies such as Ikea, Nestlé, Iberdrola and Volvo Cars to urge governments to set policies that accelerate the transition away from fossil fuels to clean energy...
...Shares in Sweden’s Volvo Cars were on track for their worst day ever on Friday after China’s Geely sold part of its shareholding in response to investor concerns about the automaker’s small free float....
...The other is a pre-production model of a car that the new global head of design at Volvo believes is the company’s future: all-electric, with a quarter of its aluminium recycled (as well as a fifth of its...
...British car exports to Canada are facing tariffs of more than 6 per cent within days, as a deadlocked trade dispute between the two allies descended into further acrimony on Wednesday....
...In recent years, the ambitious Chinese group has listed shares in Volvo Cars, Polestar and ECARX....
...The act has put a potential US expansion “top of mind for us right now,” Volvo Cars CEO Jim Rowan told the FT....
...A decision by Volvo Cars on Thursday to cut loose its premium EV brand Polestar is the latest example of a strategic about-turn. Earlier this week, Renault axed plans to float its EV unit Ampere....
...“We’ve noticed a significant trend towards travellers opting for luxury vans over traditional sedan cars,” says Tom Ripert, CEO of Rolzo, a private chauffeur and premium car-rental service....
...I think Europe should approach its relationship with Russia with a long-term perspective in mind, in spite of any transitory situation. Carlos MoraLongueuil, QC, Canada...
...Cars and BMW in North America....
...The expiry of the deal on cars will also have a limited impact....
...China’s BYD, for example, surpassed Tesla as the world’s top-selling maker of fully electric cars at the end of 2023....
...The rise of the electric era throws this issue into even sharper relief. Volvo Cars last week made its last-ever diesel model, after choosing to invest in battery models instead....
...The Swedish industrial start-up is ramping up production in Skellefteå at the same time as aiming to build three new gigafactories: one in central Sweden with Volvo Cars, one in Germany and another in Canada...
...Adding to the evidence that this is not a dominant factor, car sizes in Canada, Australia and New Zealand have traced similar paths to the US without resulting in a spike in fatalities....
...As it raised $450mn from owners Volvo Cars and Geely, the Nasdaq-listed group said it aims to make gross margins in the “high teens” in 2025, while selling 155,000 to 165,000 cars a year, a new target....
...Analysts at Royal Bank of Canada estimated that Close Brothers would be hit with a £250mn redress bill....
...As of the end of 2022, Aiways exported a total of 6,259 cars to more than 15 countries including Germany, France, Costa Rica and the UAE....
...Unlike rivals BMW and Mercedes-Benz, Audi makes no cars in the US. Its factory in Mexico makes the Q5 SUV, but many cars it sells in America are exported from Europe....
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