Volvo Cars appoints Skoda chief Klaus Zellmer as new CEO

Volvo S90 displayed at a car showroom. FILE PHOTO. The image is representative of Volvo Cars' vehicle lineup.

STOCKHOLM — September 20, 2026

Volvo Cars has appointed Klaus Zellmer as its next president and chief executive officer as the Swedish automaker works to revive sales and navigate growing competition in the global car market. Zellmer, currently chief executive of Volkswagen's Skoda brand, will take the role no later than October 1, 2027.

Zellmer has more than 30 years of experience in the automotive industry. He will succeed Hakan Samuelsson, who returned as Volvo Cars CEO in 2025 after previously leading the company from 2012 to 2022.

Volvo Cars, which is majority-owned by China's Geely Holding, has faced pressure from US tariffs, weaker demand for electric vehicles and high vehicle development costs. The company has struggled to meet earlier profitability targets as sales have also weakened in key markets including China.

Samuelsson presented a new strategy at Volvo Cars' strategy day last week, including plans to launch 13 new models between now and 2030. The company aims to double its market share while responding to the impact of tariffs and weaker Chinese sales.

Volvo also faces challenges from the need to manage its Western and Chinese technologies while maintaining access to the US market. Its sister electric-car brand Polestar is facing a sales ban in the United States.

Volvo Cars Chairman Li Shufu said Zellmer had a record of leading organizations through changes in market conditions. He said Zellmer's experience with both premium vehicles and high-volume brands would suit Volvo Cars.

The company's shares have remained near record lows and have fallen more than 45% so far this year. Cost-cutting measures have helped reduce pressure on earnings, while demand for the new EX60 electric SUV has exceeded Volvo's initial expectations.

Volvo has also been adjusting its production network to reduce the impact of tariffs. The company has moved production of its hybrid XC60 to South Carolina and is increasing EX30 production at its plant in Belgium.

Zellmer will take over as Volvo Cars seeks to improve sales, manage trade pressures and execute its new product strategy in an increasingly competitive automotive market.