VLVOF - Volvo Car Shifts EV Production To Belgium From China As EU Tariff Threat Looms: Report | Benzinga
Volvo Car AB (OTC:VLVOF) (OTC:VLVCY) has reportedly initiated the transfer of its Chinese-made electric vehicle production to Belgium in response to impending European Union tariffs on China-manufactured EVs.
The company plans to move the assembly of the EX30 and EX90 models, along with some U.K.-bound models, to Belgium.
Volvo, owned by Zhejiang Geely Holding Group Co. (OTC:GELYY), faces significant exposure to these potential tariffs, reported Bloomberg, citing the Times.
Ongoing trade disputes ...