Volvo Cars wants fully electric vehicles to consist of half their lineup by 2025. The announcement builds on Volvo’s commitment last year that all new models released from 2019 will be available as either a mild hybrid, plug-in hybrid or battery electric vehicle.
“Last year we made a commitment to electrification in preparation for an era beyond the internal combustion engine,” explained HÃ¥kan Samuelsson, President and Chief Executive Officer of Volvo Cars.
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The move is also part of Volvo’s strategy to strengthen itself in China, a prime market for electrified vehicles. The Chinese government plans to have new-energy vehicles account for more than 20 percent of annual sales by 2025, which equates to more than seven million autos, based on Chinese government forecasts. “China?s electric future is Volvo Cars? electric future,” Samuelsson added. “Today we reinforce and expand that commitment in the world?s leading market for electrified cars.”
Volvo currently assembles the S90 and S90L T8 Twin Engine in China, and production of the XC60 T8 Twin Engine will commence in China soon, meaning all three Volvo China plants ? Luqiao, Chengdu, and Daqing ? will produce either plug-in hybrid or battery electric vehicles.
Volvo XC40 T5 plug-in hybrid. Photo: Volvo Car Group.
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China is Volvo Cars? largest individual market, recording a 23.3 percent first quarter sales increase this year alone, while sale...