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Volvo confirms U.S. push

Published 09/21/2017, 08:18 AM
Updated 09/21/2017, 08:18 AM
© Reuters.  Volvo confirms U.S. push
  • Volvo (OTCPK:GELYF) CEO Hakan Samuelsson confirms a plan by the company to double its capacity in the U.S. as part of a target to hit 800K in unit sales by 2020.
  • Samuelsson thinks Volvo's strategy to sell electric cars will boost margins over the long term. The premium car seller plans to offer electric versions of all models by 2019. "People increasingly demand electrified cars and we want to respond to our customers’ current and future needs," says Samuelsson.
  • Sources: Bloomberg interview, Volvo press release
  • Now read: How The Gladstone Company Preferred Stocks Stack Up


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