Volvo searching for Polestar investors
Volvo is currently holding talks with Chinese and US investors to generate additional capital for its Polestar electric car brand. Meanwhile, the subsidiary has announced that the Polestar 2, the brand’s first all-electric model, will be officially presented on February 27.
Volvo XC40 Electric to be profitable “from day one”
Volvo is preparing for the launch of the electrified XC40 series and has narrowed down on price. The all-electric XC40 will cost about 50,000 dollars according to Volvo CEO Håkan Samuelsson. He also affirmed Volvo’s intention to be profitable “from day one” at a media event.
Every 2nd Volvo sold to be purely electric by 2025
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.