In Pictures: Volvo to Launch Lower-Priced EV Amid Huge Loss, 2,500 Job Cuts and Strategy Review

Volvo's EV push continues as the carmaker plans a lower-priced model on its dedicated SPA3 platform.

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The strategy review comes as Volvo seeks to cut costs and improve cash flow amid a larger-than-expected operating loss.

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Volvo is betting on 13 new models through the end of the decade to turn its fortunes around.

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The lower-priced BEV is slated for European customer deliveries after next summer.

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The unnamed EV will join a growing lineup as Volvo lowers its break-even point.

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The announcement follows 2,500 additional job cuts as part of the company's restructuring.

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Volvo aims to strengthen its position in Europe with an affordable electric offering.

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The carmaker's revised strategy focuses on cost discipline and improved cash flow.

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Volvo's plans unfold against a challenging market for electric vehicles worldwide.

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