Overview
- Sunwoda said the agreement with Geely’s Vremt resolves the December lawsuit over allegedly defective cells supplied from 2021 to 2023.
- The company forecast a reduction of 500 million to 800 million yuan in 2025 net profit due to sharing battery replacement losses.
- Vremt will withdraw its 2.31 billion yuan claim, with replacement costs to be allocated based on actual expenses.
- Volvo announced EX30 recalls in Australia, the United States and Canada for overheating risks, and NHTSA said the affected cars carry Sunwoda batteries.
- Geely declined to comment, and the number of its vehicles affected or any recall plans remains unclear.