Volvo Cars has set a target for fully electric cars to make up 50% of its sales by 2025, the company announced at the Beijing Auto Show.
This builds on Volvo Cars’ 2017 announcement that all new models released from 2019 will be available as either a mild hybrid, plug-in hybrid or battery electric vehicle.
“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.”
The Chinese government plans to have new-energy vehicles account for more than 20% of the country’s annual car sales by 2025, which equates to more than seven million vehicles, based on Chinese government forecasts.
Volvo Cars currently produces the S90 and S90L T8 Twin Engine in China. This week marks the start of production for the XC60 T8 Twin Engine in China, meaning that soon all three Volvo Cars China plants – Luqiao, Chengdu and Daqing – will produce either plug-in hybrid or battery electric cars.
The Beijing event is also the first time the company has displayed only plug-in hybrid vehicles at an auto show.