Volvo Cars has officially appointed Klaus Zellmer as its next president and chief executive officer, with the executive set to take over from Hakan Samuelsson no later than October 1, 2027. According to the latest disclosure, Samuelsson, who returned as Volvo Cars CEO in April 2025, is expected to step down when his current contract expires in April 2027. He had previously led the company from 2012 to 2022 before returning to the top position last year, providing stability during a pivotal period for the automotive industry. For investors, the appointment adds clarity to Volvo's succession plans but doesn't resolve its immediate operational challenges. The disclosure was made pursuant to the EU Market Abuse Regulation (EU nr 596/2014) on September 20, 2026. As reported by Bloomberg, Samuelsson and the Volvo board will work with Zellmer to ensure a seamless handover during the transition period.
Klaus Zellmer brings more than 30 years of automotive industry experience, most recently serving as Chairman of the Board of Management and CEO of Škoda Auto. As reported by Volvo Cars, Eric Li, Chairman of Volvo Cars, emphasized that Zellmer combines deep automotive expertise with broad international leadership experience and a strong record of guiding organisations through transformation and changing market conditions. The incoming CEO expressed his enthusiasm for joining Volvo Cars, stating he is delighted to join at such an important moment in the company's development and looks forward to contributing to the company's continued development and shaping its next chapter. Zellmer will inherit responsibility for turning Volvo's ambitious product strategy into stronger sales, improved margins and a recovery in the company's battered stock performance. His experience from both the high-end premium segment and high-volume brands provides an excellent fit for Volvo Cars, as noted by the Board of Directors.
Volvo has announced plans to launch 13 new models by 2030 and aims to double its market share as part of its ambitious product strategy. According to Reuters, the planned portfolio includes six models for China and seven for Western markets, with a mix of electric vehicles and hybrids. The automaker is also targeting a pre-tax margin of more than 8%, compared with 3.5% in 2025. Zellmer highlighted Volvo's remarkable ability to reinvent itself time and again after almost 100 years, calling it both a remarkable achievement and an ongoing challenge. The strategy was outlined during a strategy day on Thursday where Samuelsson laid out the comprehensive roadmap for the company's transformation. The Board is confident that under Zellmer's leadership, Volvo Cars will build on its strong foundations and enter its next chapter with a clear ambition to strengthen its position as a leading premium car company.
Volvo Cars has unveiled a broad revamp that includes reshaping its manufacturing network around five plants dedicated to its namesake brand and two shared with partners. As reported by Bloomberg, the overhaul, designed to help the company navigate increasingly fierce competition, includes its biggest-ever product push. The automaker plans to introduce seven new vehicles for Western markets and six for China by the end of the decade in a bid to double its slice of global sales of electric vehicles and plug-in hybrids from around 1.7% currently. Volvo Cars, majority-owned by Chinese carmaker Geely, is moving away from the strategy of offering largely identical global models to customers in Europe, China and the US, where consumer preferences and market requirements are becoming increasingly different. The company has also placed greater emphasis on hybrid vehicles as demand for fully electric cars has grown more slowly than anticipated.
To lower development and sourcing costs, Volvo plans greater sharing of platforms and components with Geely. As reported by Reuters, the company faces additional challenges in maintaining access to the US market while managing the separation of its Western and Chinese technologies. Its sister brand Polestar is facing a US sales ban, adding to the strategic complexity. The leadership change comes as Volvo faces significant operational challenges, including US tariffs, weaker sales in China, softer electric-vehicle demand and high development costs. The Geely-controlled automaker is also contending with softer demand for electric vehicles, declining sales in China and elevated development costs. The company must also separate aspects of its Western and Chinese technology operations to preserve access to the US market, where sister brand Polestar faces sales restrictions.
