Volvo Cars expects to deliver its electric SUV in 2024. By Reuters

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© Reuters. Volvo EX90, the company’s new electric SUV, is unveiled at a launch event in Stockholm, Sweden November 9, 2022. Anders Wiklund/TT News Agency/via REUTERS

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by Marie Mannes

(Reuters) – Volvo Cars’ chief executive is confident the Swedish carmaker will deliver its new electric car by 2024 despite significant supply chain problems, he said on Wednesday.

Despite short-term supply chain issues that have complicated Volvo’s transition to electric vehicles (EVs), CEO Jim Rowen told Reuters he believed the component and component problems that have plagued the industry are gradually coming to an end, including a shortage of semiconductor chips globally. .

“We still see remnants of the semiconductor shortage, which we think will continue for some time,” Rowen said. “But when we get to full production … most of that will be behind us.”

The company unveiled the EX90, its latest electric car, in Stockholm on Wednesday and said it plans to introduce new electric cars annually.

Volvo calls the EX90 electric SUV “a highly advanced computer on wheels” and says it’s safer than previous cars and has a range of up to 600 km (373 miles).

“The new Volvo EX90 represents the beginning of a new era … as we set a decisive course towards a fully electric future,” the company said in a statement.

The car, which seats up to seven people, will be built in the US and China using CATL batteries as part of Volvo’s goal to produce only electric cars by 2030.

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