Following an announcement this week, we now know one they’ll have for certain — electric motors.
Starting in 2019, the Chinese-owned luxury car brand will only launch electrified vehicles. To mark the new beginning and the end of Volvo’s commitment to the internal combustion engine, the marque is releasing five all-electric models and will follow that with a range of hybrid cars.
While some Volvos will still have an ICE in addition to an electric motor, the automaker says electrification is “at the core of its future business” and plans to have sold a total of at least one million electrified cars by 2025.
“This is about the customer,” said Volvo president Håkan Samuelsson. “People increasingly demand electrified cars and we want to respond to our customers’ current and future needs. You can now pick and choose whichever electrified Volvo you wish.”
Besides being a good move for the environment, this may be a solid development for investors as it’s possible Volvo will announce an initial public offering, The Wall Street Journal reported.
Stay tuned …