Volvo Cars, like all other established carmakers today, is investing large amounts of money on electric mobility. Last year, the Swedish company unveiled the Polestar 1 – a hybrid GT that no longer carries a Volvo logo.
Volvo is aiming for 50 per cent of its sales to be fully electric by 2025. This announcement builds on the last year’s announcement that all new models released from 2019 will be available as either a mild hybrid, plug-in hybrid or a battery electric vehicle.
The inspiration for this goal is China, the world’s leading market for electrified cars. According to the company, the Chinese government plans to have new-energy vehicles account for more than 20 per cent of the country’s annual car sales by 2025, which equates to more than 7 million vehicles, based on Chinese government forecasts.
“Last year we made a commitment to electrification in preparation for an era beyond the internal combustion engine,” said Håkan Samuelsson, president and CEO of Volvo Cars. “Today we reinforce and expand that commitment in the world’s leading market for electrified cars. China’s electric future is Volvo Cars’ electric future.”
Volvo currently produces the S90, S90L T8 Twin Engine and XC60 T8 Twin Engine in China, meaning all three Volvo Cars’ plants in China – Luqiao, Chengdu and Daqing – will produce either plug-in hybrid or battery electric cars.