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Håkan Samuelsson

President and Chief Executive Officer, Volvo Cars

Search every verified Håkan Samuelsson interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Håkan Samuelsson, President and CEO of Volvo Cars, discussed the company's lower-than-expected third-quarter results and announced plans to cut approximately 2,500 jobs. He attributed the job reductions to a need for a leaner central administration and adjustments in research and development following major investments, as well as the company's strategic shift toward stronger regional operations. Samuelsson stated that the possibility of selling Western-developed cars in China has "more or less gone," citing a rapid market transformation driven by electrification and "smartification," including AI-based conversational systems and autonomous driving features. He said Volvo's sales in China fell by 50% and that the market there is not expected to improve in the coming year. Samuelsson said Volvo has defined a new China strategy over the past six months that involves a more empowered regional structure, regionally adapted cars, competitive cost levels, and locally developed software, infotainment, and autonomous driving systems. He noted that Volvo can leverage its relationship with Geely to source such technology. Samuelsson also said that the Chinese car market, at about 25 million vehicles per year, faces overcapacity and is likely to consolidate. He expressed confidence in Volvo's European product lineup, including the EX60, and said the company aims to stay at the forefront of electrification in Europe.

Recent appearances

Notable quotes

“Basically it is the market is much tougher than we thought just some six months ago. And especially China. It's very challenging. I mean, the possibility to sell the Western developed cars in China is more or less gone, and the customers there are expecting to get Chinese cars with the Chinese software features and they're going national. And then that's a problem for all or everybody in China. And then we are of cou”

“This fully globalized world with free trade will not come back. I think we will have a much more regional economy in a regionalized world and that of course could mean that we need to double invest a bit more as a building a car only in one place and shipping it all around the world is of course means less capex but it means more working capital and more freight cost longer delivery times for customers so the regiona”

“We now need to lock in a product plan for around 2030—our all-electric goal. Now our goal is a fully electric lineup covering our market segment. But what's new is that we'll also have, as a backup, some plug-in hybrids for customers who still aren't ready to be able to charge.”

“We've reduced indirect costs by about 5 billion this year. 3,000 people have left the company. We've tailored the organization.”

“I think it's realistic not to rely and count on some kind of state subsidies to help the electrification if that what you mean. That can only be done by better cars and affordable cars.”

“Nej, jag tycker det är onödigt. Det är ändå tio år kvar här och amerikanerna satt en man på månen brukar man ju ofta säga. Tror hon gjorde det på nio år och skulle inte kunna lyckas bygga ut lite laddinfrastruktur på tio år. Så jag tycker det är för tidigt då att börja och pruta på det här nu. Eh därför jag tror det är väldigt viktigt att industrin får ett tydligt mål om man börjar tänka jaha kanske inte blir elektri”

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