Article ID: 152fdd76f292dd5a84fb667e118e5b89766887f4fdcd8c0ee405931b6fd4f9d4
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Volvo Cars to recall 40,000 electric SUVs over battery fire risk - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Volvo Cars to recall 40,000 electric SUVs over battery fire risk General liability , Risk Management Feb 23, 2026 (Reuters) – Volvo Cars will recall over 40,000 of its flagship electric EX30 SUVs because their battery packs risk overheating, it told Reuters on Monday, a move that could dent the automaker’s hard-earned reputation for safety and cost it millions of dollars. The previously unreported recall involves replacing high-voltage battery packs in the compact SUV that is a crucial model in Volvo’s push to compete with cheaper Chinese brands. Battery safety is a highly sensitive issue for EV makers and consumers. A total of 40,323 EX30 Single-Motor Extended Range and Twin-Motor Performance cars with these high‑voltage cells are affected, the Swedish automaker owned by China’s Geely said in response to questions from Reuters. “We are now contacting the owners of all affected cars to advise them of next steps,” Volvo said. In the rush to develop new EVs, some automakers have faced battery defects. In 2020, a fire risk forced General Motors to recall 140,000 Chevy Bolts with batteries supplied by South Korea’s LG Electronics, costing $2 billion to fix. Volvo’s battery issues come as the carmaker pursues a $1.9 billion savings drive and deeper integration with parent Geely. The batteries were made by a Geely-backed joint venture, Shandong Geely Sunwoda Power Battery Co. Volvo said the supplier has fixed the problem and would supply the new battery cells. Volvo said it would replace affected battery modules free of charge, urging owners in the meantime to continue limiting charging to 70% to eliminate the fire risk. “The EX30 especially is very important to Volvo, so they have to get it right,” said Sam Fiorani, vice president for global vehicle forecasting at research firm AutoForecast Solutions. Since December, Volvo has told EX30 owners in more than a dozen countries, including the United States, Australia and Brazil, to park away from buildings and cap charging at 70%, according to regulatory filings and the company. Andy Palmer, an industry veteran who oversaw the launch of Nissan Motor’s 7201.T Leaf EV in 2010, said Volvo has less room for missteps than rivals as its reputation for safety is central to its identity. “Volvo can’t afford a safety issue because that strikes at the heart of their brand,” he said. The new EX30 battery packs alone could cost $195 million, excluding logistics and repair costs, according to a Reuters analysis based on what a Chinese battery maker might charge. Volvo said the calculations were “speculative in nature,” and that the automaker was in talks with the supplier. Related News Marsh hires senior adviser from digital infrastructure company February 23, 2026 Love at first crash? 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