Volvo electric cars to make up 50% of sales by 2025
The Swedish manufacturer, Volvo announced its intentions to make more Volvo electric cars at the Beijing motor show. It will increase Electric Vehicle output to capitalise on the demand from the Chinese market. Chinese Government officials are planning to have 20% of all new cars powered by alternative fuels by 2025. This is equivalent to around seven million per year.
Volvo is aiming for fully electric cars to make up 50% of its total sales volume by 2025. Volvo stated that they will unveil its first fully electric car in 2019.
CEO Håkan Samuelsson stated “Last year, we made a commitment to electrification in preparation for an era beyond the internal combustion engine.” Then continued to add; “today, we reinforce and expand that commitment in the world’s leading market for electrified cars. China’s electric future is Volvo Cars’ electric future.”
Volvo, recently announced that it would be launching a hybrid version of the XC40. This is part of a long term plan to introduce an electrified version of every model in its line-up from 2019. Every Volvo will be offered with a mild hybrid, hybrid or battery-electric powertrain option.
China is Volvo’s biggest market, with more than 100,000 of its vehicles being sold there in 2017. Volvo has already seen a 23% growth in sales in Q1 2018 in China and 14% globally.
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