Volvo targets half of all car sales to be fully electric by 2025
Swedish manufacturer aims for pure battery-powered cars to account for 50 per cent of its sales by 2025, with the goal of strengthening its position in China
Volvo has set itself a target for half of all its global car sales to be pure-electric by 2025, driven by the goal to strengthen its position in China.
The Chinese government plans for all ‘new-energy’ vehicles to account for 20 per cent of sales – which it estimates will be more than seven million vehicles. The country is also Volvo’s largest market, selling more than 100,000 cars there last year.
Håkan Samuelsson, president and CEO of Volvo Cars, said: “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.”
The firm is a key player in the Chinese motoring industry – operating three production plants in the country, with another that will house production of vehicles from performance spin-off brand Polestar.
Samuelsson added: “This is about the customer. People increasingly demand electrified cars and we want to respond to our customers’ current and future needs.”
