Remember when Volvo Cars announced that it would begin selling electrified vehicles by the year 2019? Well, it looks like the Swedish carmaker is dead serious about this goal. In fact, it has just announced that it intends to have at least 50 percent of its sales made up of electric vehicles by the year 2025.
While this may sound ambitious, Volvo is not batting an eyelash on this one. It plans to reach its target by offering either mild hybrids, plug-in-hybrids, or battery electric vehicles in various sizes, categories, and markets. It said that it would be rolling out five new electrified models between 2019 and 2021. Three of these would be Volvo models while the other two would come from performance arm-turned –electric division Polestar.
Another strategic move the Swedish carmaker intends to make is to tap the ever-growing Chinese market. With the full support of the Chinese government, China hopes to make at least 20 percent of all vehicle sales electric by 2025. Putting things into perspective, that equates to a whopping 7 million EVs and hybrids.
