Swedish luxury carmaker Volvo targets to sell one million electrified cars by 2025 when half of all the cars it sells globally are expected to be full electric models, a top company official said. Being the first luxury carmaker to announce its intention of shifting its focus away from diesel and towards electrified vehicles, Volvo Car, owned by Chinese carmaker Geely, looks to partly electrify its entire fleet by 2019 through hybrid versions.
The company plans to revamp its entire portfolio by rolling out a range of mild-hybrids with a 48-volt battery, plug-in hybrids, and electric vehicles, starting 2019, said Henrik Green, senior vice-president, research and development, at Volvo Car. “We anticipate a big turn starting with 2021,” Green told ET in an interview. “We are rolling out our first full battery electric vehicle in 2019 with the Polestar, which will still be a niche, (but) after 2021, it will become bigger with Polestar 2 followed by Polestar 3,” he said. “Eventually, by 2025 you could see half of our vehicles sold being fully electric.” Read More