Too much Tariff forces Volvo to shift EV Production to Belgium
According to a Saturday Times story, Volvo has begun to move its manufacture of electric vehicles built in China to Belgium, hoping that the European Union will go forward with a crackdown on imports that Beijing has subsidized.
According to the publication, which cited corporate insiders, Volvo, which is primarily controlled by China’s Geely, was thinking of stopping sales of EVs made in China that were headed for Europe if tariffs were implemented. The article also stated that Volvo has stated that stopping sales of EVs built in China was no longer being discussed and that moving manufacturing of the business’s EX30 and EX90 models from China to Belgium is likely to eliminate the need for the company to do so.