Volvo is moving to a more regionalised business model that will help it better adapt to differing market demands and legislation in Europe, the US and China.
Under the stewardship of recently re-appointed CEO Håkan Samuelsson, Volvo Cars will devolve more power to its American and Chinese divisions while “more directly” steering its European operations from its HQ in Sweden.
The move was detailed by Samuelsson at the Financial Times Future of the Car event, shortly after Volvo announced a drastic global cost-cutting plan in response to a significant drop in sales and a “challenging external environment”.
