Swedish premium manufacturer Volvo aims for fully-electric cars to make up 50 per cent of its global sales by 2025.
The brand was the first to state that all of its models will be electrified in some form from 2019 – may that be as a mild hybrid, plug-in hybrid or an all-electric vehicle – and is hoping that interest from Chinese customers will be the driving force.
China is the brand’s largest single market, and with Volvo currently displaying its range of plug-in hybrids at the 2018 Auto China show in Beijing, it is hoping to capitalise on the country’s ever-expanding electrified car market.
The Chinese government has stated that by 2025, more than 20 per cent of the country’s car sales should be powered by new energy – i.e. electric and hydrogen fuel cells – which totals more than seven million vehicles, according to government predictions.
Volvo Cars president and chief executive officer Hakan Samuelsson, said: “Last year we made a commitment to electrification in preparation for an era beyond the internal combustion engine.
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“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 also displayed the T5 plug-in hybrid version of the XC40 compact SUV for the first time, which is expected in UK showrooms later this year.
