Volvo Car China Investment Company Appoints New Chairman; Hu Yanhang Takes Over

[Leadership Change] Volvo Car (China) Investment Co., Ltd. recently completed a senior management reshuffle, with Yuan Xiaolin stepping down as Chairman and Hu Yanhang assuming the role.

⚡ Core Development: Full Refresh of China Leadership Team

On December 21, Volvo Car (China) Investment Co., Ltd. finalized its business registration update, officially appointing Hu Yanhang as Legal Representative and Chairman. The following day, the board was restructured, with Yi Chen and Ulf Joakim Alpsten newly appointed as directors.

📊 Key Metrics: Sales Stabilizing Amid EV Transition Pressure

In 2024, Volvo sold 156,000 vehicles in China, an 8.2% year-over-year decline, with new energy vehicles accounting for less than 50% of total sales. However, November sales reached 14,236 units, marking two consecutive months of month-over-month growth, and the share of new energy vehicles is gradually increasing.

🔍 Strategic Context: Global Electrification Pressure Reaches China

This leadership change follows closely after Volvo’s global CEO transition in March this year, when 74-year-old former CEO Håkan Samuelsson returned to lead a two-year intensive electrification drive. As a critical market, China is at the forefront of this strategic shift.