[Volvo Cars to Exclusively Sell Lynk & Co EVs in Europe] On March 30, Volvo Cars announced that it had signed a memorandum of understanding with Geely Automobile to become the exclusive importer and dealer of EVs under Geely’s Lynk & Co brand in the European market. Volvo Cars said: “The company plans to sell Lynk & Co car models through Volvo Cars’ retail network and use its sales and after-sales system in relevant markets.”

[Volvo Cars Will Cease Production of the EX30 in the US] Swedish automaker Volvo Cars said on March 16 that it would stop producing the small electric SUV EX30 and the EX30 crossover in the US later this year. Sales of these two car models in the US market will end after the 2026 model year, but the EX30 will continue to be sold in other markets, including Canada and Mexico.

【SMM Steel】The first ScanLoop train arrived at Beddingen, carrying 25 wagons of steel scrap from Volvo Cars' Sweden plant to Salzgitter Flachstahl. The closed loop returns compressed stamping off-cuts to Germany for melting, using backhaul trains instead of running empty. The 700-km rail trip takes 1.5 days with 100% carbon-neutral power. Salzgitter's DEUMU and VPS manage it. It shows how circular economy boosts resource efficiency and cuts emissions.

[Volvo Recalls 11,469 Cars in the US] On June 17, according to the US National Highway Traffic Safety Administration (NHTSA), Volvo Cars is recalling a total of 11,469 cars, involving multiple car models. In certain driving scenarios, the vehicle's braking function may fail.

[Volvo Cars to Lay Off Nearly 3,000 Employees Globally] Volvo Cars announced on May 26 that it would lay off employees globally as part of its recently launched cost and cash action plan. The action plan, costing SEK 18 billion (approximately US$1.9 billion), aims to streamline the organization and structurally reduce the cost base, equivalent to cutting around 3,000 positions, including consultants, across Volvo Cars' global operations. The layoffs will primarily affect the company's office-based job titles in Sweden, accounting for approximately 15% of its global office workforce. Volvo Cars expects to incur one-time restructuring costs of up to SEK 1.5 billion.

[SMM Analysis]On May 27, 2025, REPT Battero Energy Co., Ltd. (hereinafter referred to as "REPT Battero") and Hyosung Heavy Industries (hereinafter referred to as "Hyosung") officially signed a Memorandum of Understanding (MoU) for strategic cooperation, marking the beginning of in-depth collaboration in the energy storage system (ESS) sector. This cooperation focuses on key areas such as ESS battery cell supply, system integration, and market promotion.