Håkan Samuelsson returns as CEO of Volvo Cars. His experience will help secure the electric car future, increase Geely synergy and reduce costs.
Håkan Samuelsson has been reappointed as CEO of Volvo Cars. This comes at a challenging time for the carmaker. His assignment includes three new key objectives for the company.
The appointment comes at a time when Volvo Cars' share price has been under pressure. Although it is not mentioned directly in the press release, Samuelsson is seen as a stabilizing figure. He is a well-known name that can provide peace of mind to shareholders.
Officially, the press release highlights Håkan Samuelsson's extensive experience from the automotive industry. This experience is considered crucial for Volvo's future direction and strategy.
Industry media outlet Automotive News has gained insight into Samuelsson's new job description, which outlines the key focus areas for his new period at the helm of Volvo.
The most important task for Samuelsson will be to continue the transition to electric cars. Volvo Cars has a clear goal of becoming a pure electric car brand in the long term.
Volvo's electric car strategy and the future
Plug-in hybrids are mentioned as an important part of the transition phase. They will bridge the gap until the full switch to pure electric cars is complete.
Another key point in the job description is the collaboration with Geely. More synergies between Volvo Cars and the Geely group must be found and exploited.
Håkan Samuelsson is seen as a strong card here. He has extensive experience within the Geely group from his previous roles, including his time as CEO of Volvo Cars.
His role as chairman of Polestar also gives him valuable insight. Polestar is closely linked to both Volvo and Geely.
The third major task for the returning director is about finances. Samuelsson must ensure better control of the company's costs.
Fewer costs and greater dependence on China
This involves a sharp focus on reducing overall costs. Efficiency and optimization will be important keywords in the coming period for Volvo Cars.
The market and shareholders are expected to welcome a well-known leadership figure. Samuelsson's name can potentially create calm both internally in the organization and externally.
The coming months and years will show how Håkan Samuelsson concretely approaches the new tasks. Volvo's transformation towards a fully electric future now continues under familiar leadership. The challenges for the Swedish car manufacturer are clear.
Volvo has several interesting cars in their current model range, covering both electric cars and plug-in hybrids. You can read much more about the new and compact Volvo EX30 here on Boosted. Among other things, we uncover the car's many problems.
