The Swedish brand is advancing its transition into a premium plug-in label fast as Volvo aims for fully electric cars to account for half of its total sales by 2025. This builds on their plans that new models released from 2019 will be electrified in some form.
Whilst that first strategic announcement included mild hybrid, plug-in hybrid or battery electric vehicles, this latest target is a tougher challenge. However, the Geely-owned brand bases its projection to generate 50 percent of its sales from all-electric cars onto China, which the press release calls “the world’s leading market for electrified cars.”
With the government in Beijing officially pushing for new energy vehicles to account for more than 20 per cent of the country’s annual car sales by 2025, Volvo is playing along with the new rules with Volvo CEO Håkan Samuelsson saying that “China’s electric future is Volvo Cars’ electric future.”
Accordingly, the booth of Volvo in Beijing got no other cars than plug-in vehicles on display.
In Europe, the first all-electric Volvo is due to arrive as a standalone model by 2019 reportedly.
Also the Polestar label has specified its plans for the old world as it releases pricing for the Polestar 1. The performance plug-in hybrid will cost 155,000 euros in Europe and has been available to order in selected markets since March (we reported).