Source: Fortune
Summary
Volvo Car AB CEO Håkan Samuelsson responded to White House trade adviser Peter Navarro’s criticism of Chinese automakers, saying they have succeeded due to effective strategy, not unfair competition. Samuelsson pointed to Chinese manufacturers’ deep vertical integration in batteries and software as a key factor. Navarro had accused BYD of “plundering global car markets” and criticized Europe for “dithering” while Chinese manufacturers gain market share.
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Volvo Car’s CEO Håkan Samuelsson pushed back against Navarro’s criticism, citing Chinese manufacturers’ success in electric vehicles. Samuelsson mentioned BYD and Zhejiang Geely Holding Group as two of China’s strongest performers. Navarro accused BYD of “pirate business model”. Samuelsson’s response came after Volvo Car’s second-quarter earnings report.
Samuelsson’s calm tone translates to: “We’re not worried, we’re just competing in a new landscape.”
