They should be shaking their hands at the prospect of losing a huge market. But officially, Volvo's CEO is not afraid of a ban in the US.
Just like all other Chinese brands, Volvo is facing a ban in the US. But that doesn't stop CEO Jim Rowan from shaking his hand.
At least, when he was asked about it at the World Economic Forum in Davos, Switzerland, he was not worried about a ban.
He tells this to Sveriges Radio.
As it stands right now, all Chinese car brands and technology from China in cars are set to be gradually banned from 2027.
The ban, which is not Donald Trump's idea, but introduced by his predecessor Joe Biden, has already prompted major bank SEB to warn about the consequences it could have for a brand like Volvo.
But Jim Rowan is not worried. Instead, he will only deal with the fact that Volvo – probably the legal department – is chewing through the new law. According to the director, it is over 200 pages long, so reading and understanding the consequences will take a long time, according to him.
"We're still figuring it out and what it means for us. But it's going to be one of those things where we're going to look at the details and see how it affects our products and our designs and so on," he told Swedish Radio at the World Economic Forum in Davos.
In our own latitudes, the EU has announced more support for electric cars. Something that Donald Trump, on the other hand, wants to do away with in the US. The new president says that the free choice of drivers is more important than political interference.
The president also spent his first day in the White House signing an executive order ending government support for electric vehicle infrastructure. Trump also wants to eliminate the government subsidies that Americans have received so far for purchasing new electric vehicles.
