Volvo Taking a Bold Steps Forward In Setting Goals For Electric
After announcing in 2017 that they would be offering an electric motor option in all vehicles produced in 2019 and beyond, Volvo is doubling down on its commitment to electric. In a recent press release, the Swedish car maker stated that they plan to have electric vehicles make up at least of half of their sales by the year 2025.
The initial move to electric motors is only for vehicles produced for the 2019 year and beyond, and even those will only have some form of electric option; either hybrid, plug-in hybrid, or fully electric. The 2025 target and 50% mark are for fully electric vehicles.
With three of its major production facilities in China, the move towards hybrids and electric cars makes sense for Volvo. China has a nationwide goal that is very similar to that of Volvo’s: they hope to have 20% of new car sold to be electric by 2025, a timeframe that matches Volvo’s target date for 50% of their new sales to be electric.
By 2030, China aims for electric vehicles to make up 100% of new cars sold. Volvo has already started to make inroads in the Chinese market as well; showing off some their newest plugin hybrids at the 2018 Beijing Auto Show.
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With Big Plans In China, Volvo Will Face Challengers
While the 2025 goals of Volvo may seem lofty to some, it’s even more challenging when you consider that the manufacturer does not currently make a fully electric vehicle. China is one of Volvo’s biggest markets and they’re already behind some other major auto makers that can claim the same, but are already offering several electric options. (Volkswagen is one that immediately springs to mind.)
In spite of other manufacturers already presenting electric vehicles, there are not many that are made and priced for the average consumer. This is what Volvo is hoping they can capitalize on, just as Tesla and Volkswagen are aiming to do the same.
China presents a lot of opportunity for automakers, especially those that are leading the conversion to electric cars. The country has quickly pivoted its production to electric and has just as quickly become the world leader in electric or hybrid cars on the road. The government backing of the transition is only logical, since the country has the most drivers in the world, as well as the emissions issues that come with that many combustion engines on the road.
Electric Vehicle Resources
Inside EVs - Find news, information, and reports about electric vehicles at the Inside EVs website. It also offers monthly U.S. figures and a scorecard of different makes and models.
Volvo Auto News - The online edition of the weekly auto industry periodical, the Volvo section of AutoNews.com will keep you up to date on the latest news about the company, both in the U.S. and overseas.