Hyperdrive
Volvo Cars Says Software Issues Delay Output of Flagship EV
- Shares drop after production start pushed to first half 2024
- Carmakers struggle with complex hardware, software timelines
Volvo Car AB’s EX90 SUV during its launch in Stockholm, Sweden, on Nov. 9.
Photographer: Mikael Sjoberg/BloombergThis article is for subscribers only.
Volvo Car AB will delay the production start of its electric flagship SUV because the company needs more time for software development and testing.
Output of the EX90 is now expected to begin in the first half of 2024, Volvo said Thursday. The Sweden-based carmaker had previously said the car would start rolling off the line in the fourth quarter of 2023. The shares fell as much as 6.4% following the news.