Volvo Car AB says software issues will delay output of flagship EV

Volvo Car AB will delay the production start of its electric flagship SUV because the company needs more time for software development and testing.

Output of the EX90 is now expected to begin in the first half of 2024, Volvo said Thursday. The Sweden-based carmaker had previously said the car would start rolling off the line in the fourth quarter of 2023. The shares fell as much as 6.4% following the news.

Demand for the car remains high, according to a statement. Putting on the brakes for further work on the vehicle’s software will help ensure a quality experience for all customers, Volvo said.