Volvo Ab News Today

(Bloomberg) -- Shares of truckmaker Volvo AB dropped as much as 5.9% in Stockholm on Friday on news that China’s Zhejiang Geely Holding Group had sold the entirety of its Class B shares, worth about 14.1 billion Swedish kronor ($1.3 billion).Most Read from BloombergElon Wants His Money BackDubai Grinds to Standstill as Flooding Hits CityIsrael Reported to Have Launched Retaliatory Strike on IranRecord Rainfall in Dubai? Blame Climate Change, Not Cloud SeedingOil Erases Advance After Irani...

"The situation is still developing and we will do our best to make sure we find ways to distribute vehicles out into the market," Volkswagen USA CEO told CNBC.

Volvo Cars shares surged more than 20% on Thursday after the Swedish automaker announced that it will stop funding subsidiary Polestar Automotive.

Tesla's had a bad week. Its earnings missed expectations and its shares plunged. Kingsley Jones of Jevons Global shares what's next and the EV names he likes.

(Bloomberg) -- Volvo AB declined after saying the truckmaker will gradually reduce production to move in line with normalizing demand following years of supply-chain disruptions that left manufacturers with record order banks.Most Read from BloombergPutin Sends US Signal on Ukraine Talks, Seeing War AdvantageUS Extends Lead Over China in Race for World’s Biggest EconomyTesla Sinks After Warning About ‘Notably Lower’ Growth RateJPMorgan Shuffles Top Managers as Jamie Dimon Pr...

The profit margins of the company, which supplies parts to car makers such as BMW, Ford, Renault and Mercedes, is expected to rise.

Volvo suspended all sales, service and production in Russia in February 2022, and said in October 2022 that further write-downs might be necessary. In 2021, Russia accounted for about 3% of its net group sales of about 372 billion Swedish crowns (USD 36.18 billion).

EV companies like Tesla and BYD have garnered a lot of attention from investors this year —but one fund manager has a different way to play the theme.

Germanys appeal as an investment haven keeps plummeting, haunted by an impending €24 billion budgetary deficit — stirring apprehension among business executives and companies that rely on it.

Finnish tech startup Varjo launched its newest headset Monday, the XR-4. It'll compete with similar headsets from the likes of Microsoft, and Apple.