STOCKHOLM (Reuters) -Volvo Cars said on Thursday that it was targeting a long-term operating profit margin of over 8% as part of a strategy overhaul to enable a strong positive cash flows and growth through electrification.

Earlier in the year, former CEO Hakan Samuelsson was brought back for two years to help revive a record-low share price, quickly launching a cost-cutting program.

This included pulling the group's then-outlook such as on delivering a core EBIT margin of 7-8% and generating a strong positive free cash flow in 2026, the company said at the time.