[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.

[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 Heavy") officially signed a Memorandum of Understanding (MoU) for strategic cooperation, marking the beginning of in-depth collaboration in the ESS sector. This cooperation focuses on key areas such as ESS battery cell supply, system integration, and market promotion.

The Fourth Batch of the Third Round of Central Ecological and Environmental Protection Inspections Fully Launched Approved by the CPC Central Committee and the State Council, the Fourth Batch of the Third Round of Central Ecological and Environmental Protection Inspections has been fully launched. Eight central ecological and environmental protection inspection teams will carry out inspections in five provinces (autonomous regions), namely Shanxi, Inner Mongolia, Shandong, Shaanxi, and Ningxia, coordinating inspections of the Yellow River Basin and provincial inspections. Meanwhile, they will also conduct inspections on three central state-owned enterprises, namely China Huaneng Group, China Datang Corporation Limited, and SPIC, with an on-site inspection period of approximately one month.

[Volvo Cars Announces Deeper Cooperation with Google] At the Google I/O Developers Conference, Google announced plans to integrate the AI chatbot Gemini into various devices, including cars. Today, Volvo Cars announced that it would strive to become the first automaker to introduce this new technology. Volvo stated that it would expand its existing cooperation with Google by integrating Gemini into its entire car model lineup. Volvo is also one of the first automakers to adopt Google's built-in Android Automotive operating system. In the future, drivers will be able to have more "natural" conversations with their vehicles, including functions such as language translation, navigation assistance, and finding specific locations. They can even ask the AI assistant questions from the vehicle's user manual. Volvo views this as a way to reduce drivers' "cognitive load," allowing them to focus on the road.

[European EV Sales Show Signs of Recovery] This year, EV sales in Europe have rebounded, but analysts warn that geopolitical instability and regulatory uncertainties could threaten the sustained growth momentum of EV sales. Amid the turmoil triggered by Trump's tariff war, Porsche, Volvo Cars, Mercedes-Benz, and other automakers have revised down or withdrawn their profit forecasts. The significant rebound in EV demand across the European continent has been one of the few bright spots for automakers. Data from the European Automobile Manufacturers' Association (ACEA) shows that, driven by a substantial recovery in the German auto market, new EV registrations across Europe and the UK increased by 28% to 573,500 units in the first three months of this year. Analysts say that the widespread rebound in European EV sales was expected, as many automakers postponed the sales of new EVs to the beginning of this year to more easily meet the EU's stricter emissions regulations.