Volvo has some big decisions to make. The coronavirus pandemic has caused serious short-term economic damage and the auto industry, in particular, is feeling the effects. Sales are down and production has come to a halt in most countries. With radically reduced income, automakers need to trim the fat, as Volvo has just made clear to Automotive News Europe.
“There are thousands of projects with our R&D, and we have to question whether we need to do them all,” said Volvo CEO Hakan Samuelsson.