Volvo Cars Raises Profit Target, Adjusts Electrification Plans

Volvo Cars unveils new profit margin target, adjusts electrification plans: In response to slowing demand for fully electric vehicles and import tariffs, Volvo has set a new long-term operating profit margin target of over eight percent. The company, owned by Geely, plans to boost the margin by two to three percentage points through collaborations with Geely and cost-cutting measures. Volvo will also integrate Geely brands into its manufacturing operations and leverage Geelys position as the worlds third-largest car player.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.