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Volvo announces 1,000 new layoffs for 2013


Volvo Car Corporation announced on Wednesday it would cut about 1,000 jobs and slash $237 million in costs by the end of this year. The Swedish automaker wants to reverse recent losses caused by weak sales in Europe. Volvo CEO Hakan Samuelsson told Swedish public television SVT that 1,000 consultants and white-collar workers would need to leave by the end of ...
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Volvo gets $1.2 billion loan from China Development Bank
Volvo Car Corporation will receive a €922 million ($1.2 billion) loan from China Development Bank to repay its debt, the Swedish carmaker announced on Thursday. The Chinese-owned carmaker hopes for more ...
Volvo Adds Three New Safety Systems
Volvo, which has a long reputation for the safety of its cars, adds three more new developments. The three safety projects are: autonomous driving support, intersection support and animal detection and ...
Volvo Fined $1.5 Million for Not Reporting Safety Defects
U.S. auto-safety regulators fined Volvo Car Group, owned by Geely Holding Group, $1.5 million for failing to report safety defects. Volvo, which was previously owned by Ford Motor, chose not to ...
Volvo Seeks Partner to Build Cars in the US
Volvo Car, owned by Zhejiang Geely Holding Group, looks for a partner to build vehicles in North America. "In the medium term, five to six years, we need to find a ...
China’s Geely Hopes to Get Volvo JV Approval in H1
Zhejiang Geely Holding Group Co Ltd hopes government will approve its joint venture with Volvo Car in the first half of 2012 so production can start in 2013. Vice President Daniel ...
Volvo S60 T4 and T5 made in Malaysia
Volvo will be manufacturing its T4 and T5 S60 models in Malaysia so for those of you who have been dreaming of the car but prices seemed just a little ...

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