Volvo pushes electric comeback amid Chinese sales slump and US rollout

Volvo Cars announced a plan to re‑enter the United States with two fully electric models – a sedan (ES60) and a wagon (EV60) – slated for launch in 2028, targeting roughly 10,000 units a year and pricing just above $50,000.

The company reported a difficult second quarter, missing profit targets as sales in China, the world’s largest auto market, fell 35%, cutting the operating margin to 1.1%. Despite the sharp slowdown, Volvo expects profit to recover in the second half of the year.

A fire in a Volvo EX30 in Rio de Janeiro triggered a recall, with the manufacturer advising owners to limit battery charging to 70% while a technical investigation proceeds.

Overall, Volvo is cutting costs, reducing its model lineup and focusing on the SPA3 platform to improve battery packaging efficiency and profitability as it expands its electric‑vehicle portfolio.