Does Volvo’s Chinese Ownership Threaten US National Security?
A bifurcated market is bad news for the auto industry and consumers, and it’s particularly troublesome for Geely.
Volvo’s Chinese ownership may fall foul of new US rules on auto technology.
Photographer: Anders Wiklund/AFP/Getty Images
Is Volvo Car AB a threat to US national security? Washington appears to think it might be, and the consequences could be profound for Chinese majority-owner Zhejiang Geely Holding Group Co., as well as car buyers everywhere.
A brand renowned for safety (and lauded by US conservatives for its family values), could in theory be prohibited from selling cars stateside from 2027 due to new regulations designed to block China from spying on US citizens or carrying out a cyberattack. Modern cars are highly sophisticated computers on wheels, creating vulnerabilities that hackers can exploit.