Tuesday, June 18, 2024
News25% of Volvo Sales are Electrified

25% of Volvo Sales are Electrified

Volvo is going towards its electrification goals by selling hybrid vehicles before introducing more EVs

  • 5% of all of the Volvo models sold in the first 10 months of 2021 were electric or hybrid

  • The company’s goal is to have 50% of its sales be electric by 2025 and 100% by 2030

  • Fully electric models accounted for 3.1% of the sales

Volvo is one of the automakers that wants to move the quickest toward electrification by targeting 2030 as the year in which its last gasoline powered vehicle will be sold.

The company has introduced two electric models, the XC40 Recharge and the C40 Recharge, the latter of which just entered production in October.

The XC40 Recharge on its own accounted for 3.1% of the global sales of the automaker for the first 10 months of 2021 and 5.6% in October.

In order to accelerate its electrification, Volvo is pushing hybrid powertrains before it is ready to introduce new fully electric models by only offering mild hybrid engine options in most of its models and by making plug-in hybrid variants available for a number of its vehicles.

Due to this, electrified models (hybrid + electric) accounted for 25.5 % of the global Volvo sales in the first 10 months of 2021 and 31.5% in the month of October alone.

Volvo’s plan is to have 50% of its sales be electric by 2025, before going fully electric by 2030, which means the company will need to increase its EV sales by more than 40% in three years.

To achieve this, Volvo plans to add more fully electric models in the next three years, including a new XC90 3 row SUV, which combined with the XC40 Recharge and C40 Recharge, should increase the proportion of buyers who choose an electric Volvo in the next few years.

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