50% of Volvo’s sales will be electric by 2025

Source: Volvo

Volvo is aiming to make up half of its sales of 2025 from electric cars, following up on an announcement made earlier in 2017 that all new models released from 2019 will be available as either a mild hybrid, plug-in hybrid or battery electric vehicle. The company’s strategy to generate half of its sales from electric cars by 2025 positions it as a powerful player in China, the world’s leading market for electrified cars. The Chinese government plans to have new-energy vehicles account for more than 20 per cent of the country’s annual car sales by 2025, which equates to more than seven million vehicles, 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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