Volvo Ramps Up EX60 Production as European Demand Crushes Targets

Key Details Volvo Car AB is increasing production of its fully-electric EX60 SUV after orders far exceeded forecasts across Europe. The Swedish automaker booked more than 3,000 units in Sweden alone shortly after the model's reveal and now plans to boost output at its Torslanda plant. Why It Matters The EX60 represents a major shift in the EV market, offering 497-plus miles of range at a competitive price point starting at $73,701 in Germany. CEO Hakan Samuelsson calls it a game-changer for the company's growth trajectory as it directly competes with Volvo's best-selling hybrid XC60. What's Next The company is negotiating with labor unions to extend factory operations an additional week this summer ahead of customer deliveries. U.S. order books open later this spring, potentially expanding demand even further. The strong European response aligns with broader EV market recovery, where fully-electric sales jumped 14 percent in January. Industry Context While Volvo gains momentum, the EV transition remains unpredictable. Stellantis announced $26 billion in EV-related writedowns and reported a 10 percent sales decline, showing that strong demand doesn't guarantee profitability across the sector.