Volvo Cars announced this Wednesday that it will cut 5% of the workforce at its Charleston factory in South Carolina, USA, due to changes in market conditions and the evolution of trade policies, including the imposition of tariffs.
A spokesperson for Volvo Cars told “Reuters” that the job cuts will affect about 125 of the 2,500 employees in South Carolina.
Volvo Cars, which is controlled by China’s Geely Holding, announced that it remains committed to creating 4,000 jobs in South Carolina and still plans to increase production in the future.
Currently, the Volvo factory in South Carolina, which has the capacity to produce 150,000 vehicles per year, only produces the electric SUV EX90 and the Polestar 3, with most units produced being imported to Europe.
Despite the job cuts now announced at that production unit, Volvo Cars, which belongs to the Chinese group Geely, stated in a statement that the United States remains a fundamental part of its long-term strategy and that it is focused on enhancing its product and production lines in the U.S.
