[SMM Steel] Tata Steel Nederland joined the European CiSMA project focused on developing low-carbon steel made entirely from recycled scrap using electric arc furnace (EAF) technology. The initiative targets a 70% reduction in carbon emissions in sheet steel production through 100% recycled scrap and circular manufacturing methods. The €4.5 million EU-funded project includes partners such as Volvo Cars, Electrolux Professional, and voestalpine, aiming to expand recycled steel applications in automotive and appliance industries.

[SMM News Flash] According to reports, Volvo Cars officially launched mass production of the EX60 at its Torslanda plant in Sweden. To ensure efficient, high-grade production of the EX60, the Torslanda plant has invested a cumulative total of approximately 10 billion Swedish kronor, primarily for introducing large-scale die-casting technology, constructing standardized battery assembly workshops, and fully renovating painting and final assembly production lines. As one of Volvo's key global production sites, the Torslanda plant is the brand's first production site to apply integrated die-casting technology at scale, with a planned annual capacity of 280,000 units. It is equipped with an 8400T ultra-large die-casting unit specifically used to produce the auto body rear floor of the EX60.

On April 29, Volvo Cars announced that the company's Q1 revenue was 72.62 billion Swedish kronor, above expectations of 72.03 billion Swedish kronor. Operating profit was 1.6 billion kronor ($172 million), below 1.9 billion kronor in the same period last year. The company's CEO stated that as locally developed car models such as the XC70 launch new versions covering larger market segments, performance in the Chinese market is expected to begin improving.

Shanghai Unison Aluminum Co., Ltd. disclosed in its 2025 annual report that, in terms of Chinese market expansion, the company established strategic partnerships with high-end quality clients such as Xiaomi Auto, AITO, CATL, NIO, XPeng Motors, and BYD. In terms of international market development, the company successfully entered the supply chain systems of internationally renowned producers such as Tesla, Volvo, Stellantis, Volkswagen, and Audi, and had achieved volume supply to some clients, laying a solid foundation for continuously increasing its market share in markets outside China. As of the end of the reporting period, the company's cumulative orders on hand from awarded projects totaled approximately 33.867 billion yuan, of which ex-China business accounted for 29.30%.

[SMM News Flash] According to reports, Volvo Cars officially launched mass production of the all-electric mid-size SUV EX60 at its Torslanda plant in Sweden. The car model is expected to be delivered to global clients starting in early summer this year. As the first BEV model in Volvo's history to have its design, R&D, and production entirely completed in Sweden, the successful mass production of the EX60 not only enriches the brand's BEV product lineup but also marks a critical phase in Volvo's new energy strategy.

[Polestar's Net Loss Widened to $2.36 Billion in 2025] Data recently released by Swedish EV brand Polestar showed that its net loss widened to $2.36 billion in 2025, compared with $2.05 billion in the same period last year. This marked the worst fiscal year for losses since Polestar was spun off from Volvo Cars and listed on Nasdaq in 2022. Despite the deepening losses, Polestar's revenue surged 50% YoY last year, reaching $3.06 billion, with full-year new vehicle sales exceeding 60,000 units.

【SMM Steel】Volvo Korea and POSCO signed an MoU to develop high-performance materials and manufacturing tech for future construction machinery, focusing on carbon neutrality and electrification. POSCO provides advanced metals and processes; Volvo leads equipment design. A key goal is structural lightweighting via high-strength steel. The innovations will be used in excavators at Volvo's Changwon plant, securing the supply chain from raw materials to final assembly.

[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.