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Tag: Volvo

IKEA Founder Was Worth $60 Billion But Drove A 1993 Volvo, Flew Coach And Got His Haircuts In Developing Countries: ‘I’m Stingy And Proud’

IKEA Founder Was Worth $60 Billion But Drove A 1993 Volvo, Flew Coach And Got His Haircuts In Developing Countries: ‘I’m Stingy And Proud’ While Warren Buffett is widely recognized as the quintessential frugal billionaire, another name less familiar yet equally prudent in his financial habits is Ingvar Kamprad, the founder of IKEA. Kamprad, who […]

Volvo shifting EV production to Belgium to evade China tariffs, The Times reports

(Reuters) – Volvo cars has started to shift production of Chinese-made electric vehicles to Belgium in the expectation that the European Union will drive ahead with a crackdown on Beijing-subsidised imports, the Times reported on Saturday. Volvo, which is majority-owned by China’s Geely, was considering halting sales of Chinese-built EVs bound for Europe if tariffs […]

EV startup Rivian hires Volvo veteran Varela as operations chief

(Reuters) – Rivian Automotive named Javier Varela its chief operating officer on Friday, bolstering its ranks with the Volvo veteran as the electric-vehicle startup expands its production facility even as it grapples with a slowdown in demand. Volvo said earlier this week that Varela would leave the Swedish truck maker after an eight-year stint that […]