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Volvo is launching a nearly $2 billion (SEK 18 billion) restructuring plan to drive growth and mitigate the impact of Trump’s tariffs. With the new EX30 and ES90 EVs rolling out, Volvo is taking drastic action to drive growth.

Volvo launches restructuring plan due to Trump’s tariffs

After its operating income fell by nearly 60% to SEK 1.9 billion in the first quarter, Volvo launched a cost and cash action plan.

The restructuring is worth SEK 18 billion, with most of it being realized in 2026. Volvo’s new strategy includes SEK 3 billion in variable cost actions and SEK 5 billion in indirect spend efficiencies. The additional SEK 10 billion will be added in cash actions to reduce working capital and capital expenditures this year and in 2026.

Volvo Cars CEO Håkan Samuelsson said, “The automotive industry is in the middle of a very difficult period with challenges not seen before.”

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With “turbulence in the market,” Samuelsson added that the company needs to “further improve our cash flow generation and lower our costs.”

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Volvo EX30 (source: Volvo)

To do so, Volvo is focusing on three areas: profitability, electrification, and regionalisation. Volvo is already leading the premium segment, with electrified vehicles accounting for 43% of sales in Q1. However, with new EVs launching, Volvo said more will need to be done to overcome the impact of Trump’s tariffs.

Volvo created a new region called Americas, which includes the US, Canada, and Latin America, to streamline its global operations.

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Volvo EX90 electric SUV (Source: Volvo)

In the US, the company is looking to sharpen its product line-up and plans to boost production at its Charleston, South Carolina, plant.

Earlier this month, Volvo started production of the EX30 at its Ghent plant, which will help it ramp up deliveries in the second half of 2025.

Since it will be imported into the US, Volvo is bracing to take a hit from tariffs. Even the EX90, which is made in Charleston, is heavily impacted, as most components still come from Europe.

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Volvo EX30 production at its Ghent plant (Source: Volvo)

Volvo also revealed the new ES90 last month, its new electric sedan and second EV built on the Volvo Cars Superset Tech Stack. It’s Volvo’s sixth fully electric vehicle following the EX90, EM90, EX40, EX40, and EX30.

In China, Volvo plans to adapt to the changing market with its first extended-range PHEV model, which will launch later this year.

Volvo said it remains “firm on becoming a fully electric car company.” Despite a weaker overall market, almost a fifth of the vehicles it sold in the first quarter were electric.

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New Chevy Bolt undercuts “affordable” Tesla by $10K, wins on features

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New Chevy Bolt undercuts

On today’s extreme episode of Quick Charge, we’ve got the most affordable new EV in America packing 255 miles of range, sub-30 minute charging, V2H support, and more – all that for a price about $10,000 LESS than that new “affordable” Tesla.

We’ve also got specs for the all-new, all-electric Ferrari Elettrica and a world’s first, hydrogen-powered autonomous farm tractor from Kubota.

Today’s episode is brought to you by Climate XChange, a nonpartisan nonprofit working to help states pass effective, equitable climate policies. The nonprofit just kicked off its 10th annual EV raffle, where participants have multiple opportunities to win their dream model. Visit CarbonRaffle.org/Electrek to learn more.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

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New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Momentum unveils upgraded Vida E+ e-bike with throttle and bigger motor

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Momentum unveils upgraded Vida E+ e-bike with throttle and bigger motor

Momentum, the lifestyle-focused urban bike brand under Giant Group, has just launched the latest version of its popular Vida E+ electric bike – and this one’s all about making e-biking smoother, safer, and more accessible to riders of all experience levels.

The updated Vida E+ features a new 500W SyncDrive Move S motor offering 60Nm of torque and pedal assist up to 28 mph, designed to provide natural-feeling power whether you’re cruising to work or just exploring around town. The system uses a combination of sensors to analyze torque, speed, and cadence, automatically adjusting power output to match your pedaling effort.

According to Momentum, the motor engages with as little as 4Nm of pedal pressure and just 10° of crank movement, giving riders what they describe as an ultra-smooth and effortless start every time.

A new optional throttle adds another layer of convenience, letting riders cruise at speeds up to 20 mph without pedaling, which should be perfect for hills, traffic-heavy starts, or when you just want to relax and take it easy on the way home. The bike’s EnergyPak 700 battery provides up to a claimed 55 miles (88 km) of range on pedal assist or 43 miles (69 km) on throttle-only riding.

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The Vida E+ also leans hard into comfort and safety. It sports a low-step aluminum frame for easy on-and-off, an 80 mm suspension fork, and wide 26×2.4-inch tires for stability and plushness. Four-piston hydraulic disc brakes ensure solid stopping power, while a new automatic motor cutoff feature stops assistance as soon as the brakes engage. The bike is UL 2849 certified, meaning it meets top-tier safety standards for batteries and electronics, which is a growing priority in the e-bike world as more cities and states consider requiring safety certification as a prerequisite.

With support for up to 300 pounds (136 kg) total load and optional racks front and rear, the Vida E+ is also built for everyday utility. And on the tech side, momentum’s RideControl app lets riders fine-tune speed and assistance, lock or unlock the bike electronically, and monitor battery health.

The new Momentum Vida E+ is available now through Giant Group’s nationwide dealer network with an MSRP of US$2,480.

Returning from a recall on its previous bike, Giant Group will now have an opportunity to see how the new version of the Momentum Vida E+ will fare.

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VW just nuked its EV lease deals – while rivals sweeten theirs

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VW just nuked its EV lease deals – while rivals sweeten theirs

VW’s US EV lease deals just went from hero to zero. Federal tax credits are now dead, the automaker has wiped out up to $12,000 in lease incentives on the ID.4, and ended $10,500 in discounts on the ID. Buzz. The move bucks the trend as other brands continue to sweeten their EV lease offers.

As of September 30, 2025, Volkswagen offered up to $12,350 in lease cash on the ID.4, depending on configuration. That included a $7,500 federal lease tax credit for lessees as Bonus Customer Cash, plus $3,500 to $4,850 in Dealer Lease Cash. It made the ID.4 one of the top EV lease deals around.

On October 1, those incentives vanished. While the ID.4 still has a 0% APR equivalent lease rate, drivers lost more than $12,000 in savings overnight. The ID. Buzz took a similar hit. Last month, the 2025 ID. Buzz offered $10,500 off MSRP between the $7,500 tax credit and $3,000 Dealer Lease Cash. Now, almost all lease cash is gone. VW Credit is offering just $750 in Dealer Lease Cash, and weirdly, not on models with two-tone paint. According to CarsDirect’s lease calculator, the lowest-priced ID. Buzz trim now carries an effective monthly cost topping $1,000 — a considerable jump.

For comparison, the ID. Buzz Pro S was previously advertised at $589 a month for 36 months with $5,999 due at signing, or an effective monthly cost of $756.

The ID.4 lease once cost just $233 a month, making it one of the cheapest EVs to lease. According to updated estimates, that figure is now north of $800 – that’s hair-raising.

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Meanwhile, VW’s rivals are going in the opposite direction. Ford extended its Mustang Mach-E lease deals through early January. Subaru’s updated 2026 Solterra still qualifies for the $7,500 lease credit, and Jeep replaced the expiring EV lease credit with equivalent bonus cash.

If you really want a Volkswagen, though, there’s some good news: financing deals haven’t changed. The 2025 ID.4 continues to offer 0% APR for 72 months, and buyers of the ID. Buzz can still get up to $3,250 in Bonus Customer Cash through November 3, a perk unavailable to lessees.

It kinda seems like VW doesn’t want to lease their EVs anymore…?? Let me know your thoughts in the comments below.

Read more: From $189 a month: 5 of the best EV lease deals in October


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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