Volvo has announced it aims for fully-electric vehicles to make up 50 percent of its sales by 2025.
The new announcement builds on the company’s 2017 announcement that all new models released from 2019 will be available as either a mild hybrid, plug-in hybrid, or battery electric vehicle. To emphasize its strategy, Volvo is only displaying plug-in hybrid vehicles at the 2018 Beijing Motor Show, including the new XC40. Joining the plug-in hybrid crossover are the XC90 and XC60.
Final specifications for the XC40 plug-in hybrid weren’t announced, but the model does use a 1.5-liter three-cylinder engine paired to an electric motor. The powertrain is capable of running on in pure-electric mode, although range hasn’t been revealed.
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The focus on hybrids, plug-in hybrids, and battery electric vehicles helps position Volvo in China, the world’s largest market for electrified vehicles. The Chinese government plans to have new-energy vehicles account for more than 20 percent of the country’s annual car sales by 2025, which should be around seven-million units, based on Chinese government forecasts.
“Last year we made a commitment to electrification in preparation for an era beyond the internal combustion engine,” said Håkan Samuelsson, president and CEO of Volvo Cars. “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.”
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