Volvo ratified its intention that by 2025 fully electric vehicles account for 50% of its sales. This announcement is in line with the 2017 release, when it became the first company in the industry to state that, beginning in 2019, all of its new models would be available as semi-hybrids, plug-in hybrids or pure electric.
It is a strategy that positions Volvo Cars as a key manufacturer in China, the world's largest market for these types of cars. In fact, the Chinese government's plans for 2025 are for vehicles powered by new energy sources to account for more than 20% of the country's annual sales, which is equivalent to more than seven million units.
"Last year we made a commitment to electrification in preparation for the era following that of the internal combustion engine," notes Håkan Samuelsson, President and CEO of Volvo Cars. “Today we announce our intention to reinforce and expand this commitment in the world's largest market for electric vehicles. China's electric future is Volvo's electric future. "
Volvo currently manufactures the S90 and S90L T8 Twin Engine, and this week will begin XC60 T8 twin engine. This means that very soon all three Volvo Cars China factories - Luqiao, Chengdu and Daqing - will manufacture plug-in hybrid or pure electric vehicles.