Despite the decline in electric car sales in Europe, Volvo’s electric models have been selling well in the first months of 2024, making it the third-largest producer of electric cars in Europe. The factory in Ghent is currently adapting to focus more on hybrid car production due to high demand for models like the XC40. However, this year fewer electric vehicles will be produced.
Recruitment is ongoing for technical profiles and other shortage professions as Volvo plans to increase production in the long term. Temporary contracts are being extended by six months, and the factory expects to see growth in production in the coming years, with a target of producing more cars than the previous year. While temporary unemployment may continue to be a factor in the near future, Volvo is dedicated to maintaining a strong presence in the European market and continuing its success in the electric vehicle sector.
The decrease in demand for electric vehicles is not due to disappointing sales of electric models seen by other brands in Europe. In fact, Volvo has seen unprecedented sales figures for its electric models, which have contributed significantly to its success as it aims to achieve half of its global sales volume with electric vehicles by 2025. The XC40 (recently renamed EX40) and C40 (recently renamed EC40) models continue to be built for the European market at Volvo’s factory in Ghent.