Volvo Automobiles delays manufacturing of Volvo EX90

Volvo Automobiles delays manufacturing of Volvo EX90

COPENHAGEN, Might 11 (Reuters) – Sweden-based Volvo Automobiles (VOLCARb.ST) has delayed the beginning of manufacturing of its new Volvo EX90 mannequin for extra software program growth and testing, it mentioned on Thursday, sending its shares down 5%.

The corporate now expects to begin manufacturing of the totally electrical SUV within the first half of 2024, it mentioned in an announcement.

Volvo Automobiles, majority owned by China’s Geely (0175.HK), unveiled the mannequin late final yr, anticipating it to hit showrooms in early 2024.

Manufacturing was beforehand deliberate to start on the finish of 2023, a Volvo Automobiles spokesperson mentioned. He declined to say when the corporate now expects the mannequin to achieve showrooms.

Reporting by Louise Breusch Rasmussen, modifying by Anna Ringstrom

Our Requirements: The Thomson Reuters Trust Principles.

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