Volvo Has No Plans To Cut EV Prices

Volvo says it already has a backlog of orders for its all-electric vehicles.

Volvo isn’t going to cut the prices of its electric vehicles and will not follow the lead of Tesla.

While recently speaking after the Swedish automaker announced its fourth-quarter financial results, chief executive Jim Rowan noted that strong demand for its EVs means that there is no need to cut prices. Indeed, the company already has a strong backlog of orders.

“We don’t see (price cuts) at this point in time,” Rowan confirmed to Reuters. “Demand for our (battery electric vehicles) is the highest that we’ve ever seen, the backlog for that as well. We don’t have any intention to reduce pricing.”