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Volvo recalls 460,000 cars worldwide for potentially deadly airbags

Volvo and the National Highway Traffic Safety Administration (NHTSA) have released an expanded recall for just shy of 260,000 of its S60 and S80 sedans. Including those 260,000 cars in the U.S., the recall worldwide numbers about 460,000. The recall affects 2001-2009 S60s and 2001-2006 S80s, which have airbag inflators that could have degraded and could blast shrapnel into occupants. If that sounds familiar, it's because the monumental Takata airbag recall was for the same basic reason. But these Volvo devices aren't Takata airbags. Instead, these airbags were manufactured by ZF, the company that builds all varieties of automotive components but is probably best-known among car enthusiasts for their transmissions. The inflators use a material that, when exposed to high levels of moisture, can start to break down and form dust-like particles. These can ignite rapidly, more so than the component was designed for, which can cause the component to break and release metal shrapnel. According to the Associated Press, this material is different than the ammonium nitrate used by Takata. According to the NHTSA documentation, there has been one incident reported concerning the airbags, in which a person died. Volvo will replace all affected airbags at no charge to the customer. The replacement airbag apparently uses a different type of propellant, so it likely won't need to be replaced again. Dealers have already been informed, and owner notices will be going out at the end of November. If you have an affected Volvo, you can call 1-800-458-1552, and the recall number for Volvo is R10125. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Volvo Cars laying off 1,300 as it steps up cost cuts

Volvo Cars will lay off around 1,300 office-based employees in Sweden as it steps up cost cutting, the Sweden-based automaker said on Thursday. While an earlier efficiency drive had begun to show results, with Volvo this week reporting a strong first quarter, more efficiency was needed, CEO Jim Rowan said in a statement. "Economic headwinds, increased raw material prices and increased competition are likely to remain a challenge to our industry for some time," he said. The 1,300 positions equate to 6% of Volvo Cars' workforce in Sweden. Rowan told Reuters the group did not yet know how much it would save from the new measures. "We're still working the details through on that," he said in an interview. The company said it had issued redundancy notices for 1,100 employees, while the remaining 200 white-collar positions would be identified following a review of the business across Sweden. It said it also expected to cut jobs and reduce costs across its global operations in the coming months, including its consultancies. Rowan said he could not yet specify where those jobs would be cut, but that focus would primarily remain on office-based positions. "We sell in over 80 countries or so worldwide, so I think there's opportunities for us to become more efficient across the entire network," he told Reuters. Volvo Cars shares were down 3.87% at 0848 GMT.   Earnings/Financials Hirings/Firings/Layoffs Volvo SUV Luxury

Volvo Cars to leave ACEA car lobby group over climate goals

LONDON — Volvo Cars said on Friday it will leave the European Automobile Manufacturers Association (ACEA) by the end of 2022, citing differences between its zero-emission strategy and that of Europe's car lobby group. The Swedish carmaker has committed to having a fully-electric car range by 2030, well ahead of the European Union's proposal for an effective ban on fossil-fuel cars as of 2035. Volvo has been a proponent of moving more swiftly to zero-emission transport, but after the EU parliament voted in June in favour of the 2035 deadline the ACEA said that "any long-term regulation going beyond this decade is premature at this early stage." In a statement Volvo said "we have concluded that Volvo Cars' sustainability strategy and ambitions are not fully aligned with ACEAÂ’s positioning and way of working at this stage." "We therefore believe it is better to take a different path for now," the carmaker added. "What we do as a sector will play a major role in deciding whether the world has a fighting chance to curb climate change." The news comes less than a month after world No. 4 carmaker Stellantis said it would leave the ACEA by the end of 2022 as part of a new approach to addressing issues and challenges of future mobility, including a shift away from traditional lobbying activity. The European Automobile Manufacturers Association, widely known by its French acronym ACEA, has been the industry's main lobbying group since its creation in 1991, uniting Europe's 16 major car, truck, van and bus makers.   Government/Legal Green Volvo Emissions Green Automakers Electric