Belgian-Macedonian Business Club

The Times UK reported that Volvo cars has started shifting EV vehicle production from China to Belgium in order to avoid higher EU customs.

Volvos EX30 and EX90 vehicles for EU and UK should be concerned by this shift. Volvo has a factory in Ghent opened in 1965 that builds C40, EX30 and XC40 vehicles.

Volvo is mainly owned by Chinese Geely group. Zhejiang Geely Holding Group Co., Ltd. is owned by Li Shu-Fu. The company manufactures and sells vehicles under the brands of Geely and Lynk, Volvo Cars, Polestar, Proton, and Lotus, as well London EV Company (London Taxi). Smart EV vehicles are built in a joint-venture with Mercedes-Benz. It also produces motorcycles.

Li Shu-Fu owns a 17 % stake in Aston Martin, 9,7 % of Daimler (now Mercedes-Benz and Daimler Trucks) and owns Mercedes-Benz dealerships in Germany