Volvo Cars is considering ramping up production in the U.S. and sourcing more domestic suppliers to mitigate the impact of higher import tariffs, particularly on electric vehicle batteries. CEO Jim Rowan noted the company’s capability to expand its South Carolina plant, which can produce up to 150,000 vehicles annually. With President Trump announcing a potential 25% tariff on vehicle imports from Europe, Volvo is also looking for U.S. battery sources to offset increased duties on imports from China. The price of the all-electric EX90 SUV has already risen due to material costs, highlighting the financial pressures from these tariffs.

Source: https://www.supplychaindive.com/news/volvo-trump-tariffs-european-union/741217/