"Volvo CEO Hakan Samuelsson stated, 'Assuming that, of course, we could discuss building cars in the plant, as we have capacity.' This reflects the potential for collaboration with Geely, contingent on regulatory success."
"Chinese-developed vehicle software and hardware are effectively banned from the US under rules introduced by the Biden administration, creating significant barriers for companies like Geely and BYD."
"Geely's sales have grown rapidly in recent years on the back of cut-priced EVs like its Galaxy hatchback, which starts at 68,800 yuan ($9,670) in China, showcasing the competitive pricing strategy."
"Building its vehicles at Volvo's plant in Charleston could be one way of circumventing the sky-high tariffs on Chinese vehicles, although restrictions on Chinese hardware and software would still pose challenges."
Volvo CEO Hakan Samuelsson indicated the brand might manufacture vehicles from Geely at its South Carolina factory, depending on regulatory challenges. Chinese EVs face significant barriers in the US, including tariffs over 100% and restrictions on software and hardware. Geely's affordable EVs have gained market share in China and Europe, but their entry into the US market remains uncertain. The Charleston factory currently produces Volvo's EX90 SUV and Polestar 3 EV, and Geely may explore partnerships with other automakers like Ford to enter the US market.
Read at www.businessinsider.com
Unable to calculate read time
Collection
[
|
...
]