© Reuters. FILE PHOTO: Volvo’s new electric car Volvo C40 Recharge is presented in Stockholm, Sweden March 2, 2021. Claudio Breciani/TT News Agency/via REUTERS

STOCKHOLM (Reuters) – Volvo Cars, owned by China’s Geely Holding, said on Friday it returned to profit in the January-June period, as it recovered from the market plunge due to the initial coronavirus pandemic.

The Swedish carmaker reported operating earnings of 13.24 billion crowns ($1.5 billion) versus a loss of 989 million a year earlier, when results were heavily affected by the pandemic.

($1 = 8.6821 Swedish crowns)

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