Volvo believes that consumer expectations are changing and that now, they are demanding safe, sustainable and convenient cars.
During the U.N Global Compact Nordic Network conference on Monday, Volvo chief executive Håkan Samuelsson said that the Swedish automaker is capable of meeting all of the demands of current and future customers.
“Our customers want safer, more sustainable and convenient cars. We can meet that demand, be a force for change and grow our business at the same time. I am confident that our next generation of fully autonomous, electrified and connected vehicles will help make the cities of the future cleaner, safer and smarter,” Samuelsson said.
As consumer demands have changed, Volvo has been forced to update its business model, Samuelsson said, reiterating the automaker’s commitment to electrification in its future vehicles. As part of the brand’s goal to become a leader in the EV segment, it wants to have 1 million electric vehicles on the road by the year 2025. It also intends on having climate-neutral manufacturing operations by 2025, Edmunds reports.
In April, Volvo confirmed that its first fully-electric vehicle will be built in China and that it will go on sale in 2019. Underpinning the model will be the firm’s Compact Modular Architecture (CMA) and not long after it launches, a larger electric model underpinned by Volvo’s Scalable Product Architecture (SPA) is anticipated to debut.