The automotive industry is undergoing an unprecedented transformation. Volvo CEO Hakan Samuelsson, one of the key figures in this transformation, says the next decade will be a turning point for Western car brands. In an interview, Samuelsson stated that the industry will transition to fully electric vehicles, and that some Western companies will be unable to survive during this period.

Hakan Samuelsson Reveals the Inevitable Truth

Samuelsson led Volvo from 2012 to 2022, leading it to the top with an IPO. After his departure, the company’s shares plummeted, but he returned as CEO on a two-year deal. With this return, he continues to prepare the brand for an electric future.

Samuelsson notes that pressure on the sector is increasing, particularly with strong moves from China. He predicts that two or three strong Chinese brands will replace giants like Ford, GM, Toyota, and Volkswagen, and that this will make the environment even more challenging for established brands.

“The industry will become electrified, and there’s no turning back. In (about) 10 years, all cars will be electric and more affordable,” Samuelsson says, without specifying which brands will disappear. However, he has full confidence that Volvo will survive this process.

This belief is underpinned by the presence of Geely, a Chinese company that has made significant progress in electrification and holds a majority stake in Volvo. What are your thoughts on this? Share your thoughts with us in the comments section below.