Larry Avila

However, Volvo Cars’ CEO Jim Rowan believes reluctant buyers will be swayed when the automaker introduces its expanded EV and hybrid lineup.

The automaker shipped fewer new vehicles during the quarter as it prioritizes EV rollouts and selling excess inventory.

The U.S.-based electric vehicle maker's agreement shores up its domestic supply chain.

The global company made nine executive moves, including the promotion of presidents and CEOs to lead Hyundai Motor Co. and Kia Corp.

The automaker is committed to ramping up U.S. electric vehicle production despite the incoming Trump administration's tariff threats, an executive said.

The layoffs will impact UAW workers and the automaker’s Michigan tech center.

The U.S.-based battery production will also help Rivian meet Inflation Reduction Act standards to help the R2 qualify for EV tax credits.

Kjell Gruner takes over Dec. 12 for Pablo Di Si, who stepped down from the post, according to the company.

CEO Oliver Zipse said 65% of the company’s cars sold in the U.S. are locally made.

CEO Oliver Zipse said 65% of the company’s cars sold in the U.S. are locally made.