Sunday, 21 October, 2018

Volvo wants EVs to make up half of its sales by 2025

Volvo electric hatchback Volvo will launch an electric hatchback next year Close
Nellie Chapman | 26 April, 2018, 11:12

Volvo is doubling down on its pledge to offer electrified versions of all models starting in 2019 by announcing it wants 50% of sales to come from electric vehicles by 2025. "China's electric future is Volvo Cars' electric future".

The Chinese government plans for all "new-energy" vehicles to account for 20 per cent of sales - which it estimates will be more than seven million vehicles.

Håkan Samuelsson, president and chief executive of Volvo Cars, said: 'Last year we made a commitment to electrification in preparation for an era beyond the internal combustion engine. Volvo is owned by Chinese manufacturing giant Geely, and the Polestar 1 will be built in China for sale in that market, as well as in the U.S., Canada and 15 European countries.

Volvo now produces the S90 and S90L T8 Twin Engine in China.

Present at the Auto China 2018 event in Beijing, Volvo's features in its display booth only plugged-in cars.

More than that, China is Volvo's largest individual market, accounting for over 100,000 units of the vehicles sold previous year. Among the vehicle on display will be the X60, X90 and the new XC40 T5 plug-in hybrid. In 2018, Volvo has achieved a 23% growth in sales for the first quarter in China, providing it with a boost to record a 14% global increase in the year-to-date.

Between 2019 and 2021, Volvo will launch an additional four electric vehicles.

The Volvo XC90 T8 is the most successful hybrid SUV in South Africa, outselling its German counterparts by a significant margin of 4:1, according to NAAMSA's 2017 figures.

It falls at the very top end of the price indications Volvo gave when they finally conceded they were willing to flog buyers a auto, with a price of £135,000 in the United Kingdom, €155k in Europe and $155k in the US.