Volvo commits to fully electric future
Volvo Cars aims for fully electric cars to make up 50% of its sales by 2025. The announcement builds on Volvo Cars’ 2017 industry-first announcement that all new models released from 2019 will be available as either a mild hybrid, plug-in hybrid or battery electric vehicle.
The company’s strategy to generate half of its sales from electric cars by 2025 positions it as a powerful player in China, the world’s leading market for electric cars.
The Chinese government plans to have newenergy vehicles account for more than 20% of the country’s annual car sales by 2025, which equates to more than seven million vehicles, based on Chinese government forecasts.
“Last year we made a commitment to electrification in preparation for an era beyond the internal combustion engine,” said Håkan Samuelsson, president and CEO of Volvo Cars. “Now we reinforce and expand that commitment in the world’s leading market for electric cars. China’s electric future is Volvo Cars’ electric future.”
The Volvo XC90 T8 is the most successful hybrid SUV in South Africa, outselling its German counterparts by a significant margin of 4:1, according to Naamsa’s 2017 figures.
Greg Maruszewski, MD of Volvo Car South Africa, says, “The success of our T8 in the local market puts Volvo in a very strong position in the hybrid and electric vehicle segment, and that is especially important in tougher markets, such as ours. We’re confident that Volvo will continue to lead as electrification gains a foothold in South Africa and further afield.”