All about Volvo Cars

On July 18, Volvo Cars announced that it would face complexities for the EX30 model in the short term due to potential EU tariffs on Chinese EVs. The company will gain clarity on the impact of tariffs once the EU investigation concludes later in 2024.

The company expects a rise in the market share of fully electric cars compared to 2023, supported by its recent car launches. However, it also believes that economic and political uncertainties will continue.

Despite facing macroeconomic and geopolitical complexities, the company still expects its cash flow to be neutral for the full years 2024 and 2025, supported by its strong operational fundamentals.

Based on Volvo Cars press release

On July 16, Hubject, the EV interoperability market leader, partnered with Volvo Cars to offer an enhanced charging experience via its Plug&Charge technology. 

Under the partnership, Volvo cars, starting with the EX90, will be able to connect its vehicles to compatible charging stations for automatic authentication and payment, removing the requirement for physical cards or mobile apps.

The Volvo EX90 will be equipped with the Hubject V2G Root Certificate, enabling secure communication via the ISO15118-2 standard between the vehicle and charging stations. In the future, more fully electric Volvo models will also support Plug&Charge with all charge point operators (CPOs) offering this capability.

Based on Hubject press release

On July 3, Volvo do Brasil announced that, from July 10, it will start charging owners of other EV brands for using its charging points.

The cost per kW/h will be BRL 4.00 and there will be a fee for connectivity per charge of BRL 2.50 and an inactivity fee of BRL 5.00 per minute after minute 16 since the vehicle is completely charged but still connected.

All Volvo clients will be able to recharge their EVs for free, with only the inactivity fee applicable to them.

This decision was made after a market analysis, with Volvo considering being the only company truly investing in expanding the charging points network in the country, that was previously used by users of other EV brands.

“My dream, as an executive, is that this sparks the need for other automakers to put chargers on the street and break this charging barrier. We want to invite more people to participate in what we have been working on since 2017, because this is the great turning point”, commented Marcelo Godoy, president of Volvo Car Brazil.

(Multiple sources on July 3, 2024)