September 11, 2025 – According to a Bloomberg report on the 9th, as the electric vehicle (EV) revolution gains momentum and Chinese automakers rapidly expand their global footprint, Volvo CEO Hakan Samuelsson has warned that several Western automakers may face elimination.
The 74-year-old Samuelsson, who reclaimed the CEO role at Volvo in April this year on a two-year contract, is no stranger to steering the Swedish automaker through industry upheavals. Having previously led the company for nearly a decade until 2022, he now returns to navigate Volvo through the electric transition.
“The shift to electrification is irreversible,” Samuelsson emphasized. “While regional variations in transition speed exist, the trajectory is clear. Within a decade, electric vehicles will dominate the market, costs will decline, and new global leaders will emerge—much like Ford, General Motors, Toyota, and Volkswagen defined past eras.”
He further predicted that two or three dominant Chinese brands will reshape the industry landscape. “This will squeeze traditional players and trigger widespread consolidation. Some will adapt and survive; others will not,” Samuelsson stated.
Volvo is responding with aggressive investments in both battery-electric and plug-in hybrid models to serve diverse global markets. Samuelsson views plug-in hybrids as critical transitional technology until charging infrastructure becomes ubiquitous. He estimates that pure EVs may only achieve market dominance several years after 2030, contingent on consumer adoption and charging network expansion.
The automaker enjoys unique advantages through its Chinese parent company Geely, which owns electric-focused brands like Lotus, Zeekr, Polestar, and Lynk & Co. “The stronger China’s automotive ecosystem becomes, the more valuable our Geely partnership grows,” Samuelsson remarked. He noted that Chinese brands now control over half of their domestic market and are expanding into Europe, forcing Western competitors to battle for shrinking market share.
“Whether we like it or not, China will define the future of global automotive—not just within its borders,” Samuelsson concluded. “The question is whether Western automakers can innovate fast enough to remain relevant.”
