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27 June 2024

Daily Newsletter

27 June 2024

Tariffs halt Volvo EV US exports

Cited the introduction of tariffs of more than 100%

Dani Cole June 27 2024

Volvo Cars has said it would delay US shipments of its EX30 electric SUVs.

Instead the firm will focus on expanding production of the vehicle outside China.

Deliveries to the US were initially slated to begin later this year but a spokesperson told news agency Reuters these would not start until 2025.

Volvo cited the introduction of tariffs of more than 100%, up from 27.5% previously, on Chinese EV imports by the US government.

Volvo is owned by China’s Geely and the EX30 is built in China.

Last year the automaker said it would expand production to a plant in Ghent, Belgium, beginning in 2025.

When it started taking orders last year, the automaker said: “We expect the EX30 to be one of our best selling models in the coming years.”

Volvo plans to sell only fully electric cars by 2030.

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