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Volvo reported better-than expected second-quarter earnings as signs of a recovery in Europe helped offset weak demand for trucks in North America.

Mack Trucks and International Motors were two of the three winners in an auction of environmental credits owned by bankrupt hydrogen fuel cell Class 8 truck maker Nikola, according to documents.

Sweden-based Volvo Cars is eliminating 3,000 positions as part of a cost-cutting program as the auto industry faces challenges from trade tensions and resulting economic uncertainty.

“People worry Geely will centralize R&D in China. That’s a misunderstanding,” Hakan Samuelsson said. “There’s no such plan, and Chinese operations are also cutting costs.”

Volvo Treasury is selling a five-year, $563 million bond on May 9, as automaker-related notes hit the market amid the looming risk of tariffs.

Volvo Autonomous Solutions’ rollout of its transport-as-a-service offering ramped up a couple of notches in recent days.

Hydrogen adoption faces infrastructure hurdles as industry shifts from billion-dollar hub plans to practical solutions. Experts highlight ethanol conversion and cost concerns.

Volvo Trucks North America plans to launch a California Air Resources Board Omnibus rule-compliant diesel engine for its revamped longhaul and regional-haul tractors, the VNL and VNR.

CEO Martin Lundstedt dropped the bombshell in the final moments of the truck and bus maker’s first quarter of 2025 earnings call, revealing an additional 200 or so jobs would be cut.

Volvo Group profit slumped 29% year over year in the first quarter of 2025 as uncertainty around tariffs and the impact on global trade hurt truck demand in North America and Europe.