Volvo is doubling down on its pledge to offer electrified versions of all models starting in 2019 by announcing it wants 50% of sales to come from electric vehicles by 2025.
While the company hasn’t even launched an electric vehicle yet, the automaker believes they can hit their target by relying on electric vehicle sales in China. As Volvo CEO Håkan Samuelsson explained, “China’s electric future is Volvo Cars’ electric future.”
The decision to focus on China isn’t too surprising as Volvo says the country is their largest market and sales climbed 23.3 percent there in the first quarter of the year. Volvo expects this trend to continue as China has a growing middle-class and the country’s “growth trends [are] driven by domestic consumption.”
Volvo didn’t name any upcoming electric vehicles in the announcement but the company has already confirmed plans to offer the XC40 with an electric powertrain. The model is expected to be launched next year but Volvo has been tight-lipped about specifics.
Between 2019 and 2021, Volvo will launch an additional four electric vehicles. Two of them will come from Volvo while the other two will be Polestar models. Little is known about them but Volvo has already confirmed the Polestar 2 will go into production in late 2019 and be a “mid-sized BEV” which will be “joining the competition around the Tesla Model 3.” It will eventually be followed by the Polestar 3 which is a “larger SUV-style BEV.”
Getting back to today’s announcement, Volvo said they will “visually reinforce the company’s position as an industry leader in electrification” by only displaying plug-in hybrid models at Auto China. Among the vehicle on display will be the X60, X90 and the new XC40 T5 plug-in hybrid.
Note: Volvo XC40 T5 plug-in hybrid pictured