Volvo Cars launches largest-ever product push, developing regionally tailored car offerings
Volvo Cars reveals the largest and most ambitious global product push in its 99-year history, launching 13 all new cars between now and the end of 2030.
By then, Volvo Cars will have a clear regionalised portfolio with electrified cars, all-electric as well as third-generation hybrids, developed for regional markets. The product plan contains seven new cars for Western markets, and six new cars for China. More details will be revealed during Volvo Cars’ Strategy Update later today in Stockholm.
With the product plan, Volvo Cars aims to double its market share by increasing its addressable market in the fast-growing fully electric (BEV) segment, as well as with third-generation hybrids for customers still reluctant to go fully electric. This new product offensive will be a significant factor in Volvo Cars’ efforts to build a company that in the long term is capable of achieving strong growth and an EBIT margin beyond 8 per cent.
“Our showrooms will look very different in 2030. This is our strongest product pipeline ever, tailored to regional needs, and emphasises our ambition to be the leading premium car brand,” says Håkan Samuelsson, president and CEO.
The new product push will also include cars in new segments, broadening the offer in each of its three main regions: Europe, the US and China. It will take Volvo Cars into the next era of design and broaden the range of the Volvo brand.
As the new software-defined and electrified cars for Western markets will use the company’s industry-leading HuginCore computing platform and be based on the SPA2 and SPA3 architectures, investments in its technology stack and manufacturing will decrease from today’s levels.
By using its unique collaboration with Geely, Volvo Cars will develop attractive new and electrified cars that are extremely competitive in China. The two companies will also work together on shared platforms, a dedicated tech stack for China and a shared parts and supply chain to develop cars in a highly cost-efficient way.
Volvo Cars will combine its product offensive with a new commercial model built on simplicity, transparency and precision. Getting a new Volvo will become even easier, with transparent pricing, streamlined offers and with special fast-delivery versions. Regular over-the-air software updates and a convenient and all-inclusive Care offer are aimed at further building the relationship between Volvo Cars and its customers.
“Our product offensive builds on four unique strengths: regionalised product offerings, leadership in electrification, unique synergies with Geely, and complete customer offers that goes beyond the car alone,” says Håkan Samuelsson. “Enabled by a high-performing organisation and affordable frames for investment and cost, these strengths position us for growth and increased profitability.”
The Volvo Cars Strategy Update, an event for investors and media in Stockholm, takes place between 9-12 CET and will be livestreamed online here.
