Electrifying sales envisioned for 2025
Fully electric cars are set to account for half of Volvo Cars’ total global sales by 2025 as the company enforces its position as a pioneering premium car maker.
Volvo announced its intentions at April’s Beijing motor show in China, coinciding with the first public appearance of the T5 Twin Engine plug-in hybrid version of the new Volvo XC40 compact SUV (pictured).
The XC40 T5 Twin Engine, which joins T8 Twin Engine versions of the S90 sedan and XC60 and XC90 SUVs, will be followed by a fully electric version of the XC40 in the future.
The characteristics of electrified vehicles – effortless performance and ultra-quiet refinement – are perfectly suited to Volvo’s reputation for creating luxury passenger cars and SUVs.
The electric-car sales target builds on Volvo Cars’ industry-first strategy, announced in 2017, which will see all new models released from 2019 made available as either a mild hybrid, plug-in hybrid or battery-electric vehicle.
The company’s strategy to generate half of its sales from electric cars by 2025 positions it as a powerful player in China, the world’s leading market for electrified cars and Volvo’s biggest market.
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 seven 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.”
Volvo Cars is currently on track to register a fifth consecutive year of global sales growth. In Australia, Volvo sales have increased by more than 25 per cent after the first four months of 2018.