Volvo already has electric car factories in Europe(and in the US), ie in Belgium. It is only Polestars(and some early electric Volvos) which are made in China.
So far the chinese owners are pretty hands off. They have provided unprecedented capital and electric car platform technology to Volvo. In exchange they got access to all Volvo knowhow about car interior design and safety(and profit from car sales).
Fun fact, in Europe you dont have to remove your shoes, yet noone has bombed any planes.