Thursday, 17 October, 2019

Volvo Plans For 50 Percent Of Sales To Be EVs By 2025

Polestar 1 launched at the 2018 Beijing Motor Show Polestar 1 launched at the 2018 Beijing Motor Show
Patty Aguilar | 25 April, 2018, 23:19

VOLVO has said it wants electric vehicles to make up 50 per cent of its sales by 2025.

At the Beijing Auto Show, Volvo Cars will visually reinforce the company's position as an industry leader in electrification with all cars on display plugged-in.

Polestar, the newly formed electric performance division of Volvo, has announced pricing for its first-ever standalone model.

The Chinese government aims to have alternatively fuelled cars making up 20 per cent - seven million - of the nation's vehicle sales by 2025. These PHEVs are the XC90, XC60 and the new XC40. For 2019, the company plans to launch a second production model called Polestar 2, which will be a midsize fully-electric vehicle.

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More than that, China is Volvo's largest individual market, accounting for over 100,000 units of the vehicles sold past year.

The CMA platform - the new modular engineering architecture from Volvo - that the new XC40 has been built on has principally been created to maximise efficiency and cut costs, but it has also been put together from the beginning with electrc powertrains in mind, and will enable easier production of electrified vehicles.

"We recognize the Chinese market's potential for electric vehicles, and Polestar has the strength to take advantage of these opportunities", explained Wu. In 2018, Volvo has achieved a 23 percent 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.

Samuelsson was joined on stage at the end of his speech at the Beijing show by Volvo chairman Li Shufu, who owns parent company Geely, and thanked him for his support of the Swedish manufacturer.

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