According to two people with knowledge of the plans, Volvo Cars is getting ready for an electric blitz to convert all of its mainstay models – three SUVs and two sedans – to electric cars and to debut a luxurious electric van aimed at boosting sales in Asia.
According to the two people who spoke to Reuters, the Swedish automaker, which is 82% owned by China’s Zhejiang Geely Holding Group, plans to introduce at least six new battery electric vehicles by the end of 2026.
Volvo has stated that it wants to have an entirely electrified lineup by 2030. By 2026, the company’s Australian division intends to sell only EVs in that market.
The largest redesign of Volvo’s model lineup since Geely acquired the company from Ford Motor Co (F.N) in 2010 is the result of previously unreported product intentions.
Volvo first began to share technologies, such as auto platforms, with Geely under Geely.
The Swedish company Volvo is getting a makeover as a result of a stronger emphasis on customer trends in Asia and efforts to increase sales there, according to the sources. Volvo has a reputation for safety and practical design.
The two individuals who are familiar with Volvo’s plans requested anonymity because the firm hasn’t released any information. Geely chose not to respond.
A Volvo-branded MPV or van that would be based on a car that Geely’s Zeekr brand sells in China is one of the new battery-electric vehicles that are slated for release during the next four years.
Three rows of seating are available in the massive battery-electric van, known as the Zeekr 009, which has a starting price of roughly 500,000 yuan ($74,179).
The car is up against the Toyota (7203.T) Alphard, a family or business van with seats that resemble those on an airline, which has gained popularity as an alternative to a limo in Asian markets like China and Japan.
According to reports, Volvo has shifted the development of its sedans and upcoming people-mover vehicle to its Shanghai research and development centre. According to one of the individuals, that centre recently relocated to a new and larger building in Shanghai after tripling the size of its design staff, which now numbers approximately 60 employees.
The EX90 sport-utility crossover, the first of Volvo’s upcoming electric cars, was unveiled in late 2017. Early in 2024 is when showrooms are anticipated to open.
According to the sources, electric versions of Volvo’s flagship models, the XC90, XC60, and XC40 crossover vehicles, as well as the S60 and S90 sedans, are also in the works.
The new MPV will target shoppers in China and other regions with a more “emotional” design that develops from the Zeekr 009, which has a sizable, LED-illuminated grille, one of the individuals said. Those mainline models will adhere to Volvo’s well-established, straightforward design elements.
Volvo split up and sold Geely its operations for hybrid and internal combustion engines.
The Chinese manufacturer has taken the initiative to unite all of its gasoline powertrain assets, including those from Volvo, with factories being separated out of Renault (RENA.PA), in order to form a new business specialising in gasoline and hybrid engines.
According to Reuters, Renault and Geely are seeking to finalise a contract to include Saudi Aramco (2222.SE) as an investor and partner in that endeavour.
The XC40 Recharge, our first totally electric vehicle, was introduced earlier this year, and a variety of other entirely electric vehicles will follow in the upcoming years. These vehicles will include high-performance versions from Polestar, the performance division of Volvo Cars, as well as Volvo models.
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