It’s newest pledge is about building and selling electrified cars – and lots of them – one million of them by 2025 to be exact.
One million is a pretty sky high number so the question becomes how does the Chinese-owned automaker plan to do this? For one, it will release its first all-electric car in 2019 and hope it’s a hit. Two, it plans to offer at least two hybrid versions of every model in its range.
“It is a deliberately ambitious target,” said Håkan Samuelsson, president and chief executive. “It is going to be a challenge, but Volvo wants to be at the forefront of this shift to electrification.”
Volvo says it’s been prepping to take serious action in the EV department for the last five years. It has developed two all-new vehicle architectures for larger and smaller cars – Scalable Product Architecture and Compact Modular Architecture – that can incorporate either hybrid or fully electric car technology.
Its larger 90 series and 60 series cars will be built on SPA, and the automaker will soon launch a global range of smaller 40 series cars on CMA. All of these cars will have electrified versions.
If you want full details on Volvo’s new electrified car pledge, check out the Volvo Cars Sustainability Report 2015.
Volvo isn’t alone in its EV and alternative fuel aspirations. Here are just a few examples. Last fall, Audi announced its plan for 25 percent of its sales to be electric cars by 2025. Ford says it will add another $4.5 billion into its electric car development program and add 13 new electric cars to its lineup by 2020. Toyota is betting down on fuel cells and hopes to cell 30,000 hydrogen-powered vehicles by 2020. Honda also just announced plans to build the Clarity hydrogen fuel-cell hatchback and an all-electric Clarity. A Clarity plug-in hybrid will be launched later in 2017.