Volvo Planning Revamp of Product Line into Battery EVs

Volvo Cars is set to revamp its product line and convert all its mainstay models, three SUVs and two sedans, into electric vehicles (EVs). It is also planning to introduce a luxury electric van to boost sales in Asia. The Swedish automaker, wholly owned by China’s Geely Holding, is expected to launch at least six new battery EVs through 2026. The company has already announced a target to make entire lineup fully electric by 2030. Its Australia unit plans to sell only EVs by 2026.

With these new product plans, Volvo is preparing to launch its biggest revamp of product lineup since Geely acquired the brand from Ford in 2010.

Under new ownership, Volvo initially started to share technologies such as car platforms with Geely.

The makeover is considered a result of a greater focus on customer trends in Asia and a push to increase sales in that market.

Among the new battery electric cars being planned for the next four years is a Volvo-branded MPV or van that would be based on a vehicle Geely’s Zeekr brand sells in China.

Volvo has moved development work on sedans to its Shanghai research and development hub, which has tripled its design staff to about 60 people.

The first of Volvo’s new planned electric models, the EX90 sport-utility crossover, was unveiled late last year. It is expected to hit showrooms in early 2024.

Other battery electric cars in the pipeline include electric versions of Volvo’s mainline products; the XC90, XC60 and XC40 crossover vehicles and the S60 and S90 sedans.

Geely has moved to combine all of its gasoline powertrain assets, including those from Volvo, with factories being carved out of Renault to create a new company focused on hybrid and gasoline engines.

Renault and Geely are working to finalize a deal to bring Saudi Aramco in as an investor and partner in that venture.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now


Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today


Subscribe to Top Insights Today

Subscribe to Executive Newsletter Top Insights Today

The Executive Newsletter -Top Insights Today- puts global business events in perspective through special insights

Join the ranks of global executives and subscribe to Top Insights Today

Top Insights Today covers insights on energy, clean-tech, oil&gas, mining, rare earths, defense, aviation, infrastructure, manufacturing, electrical vehicles, big-tech, finance and politics of business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

U.S. Restores Sanctions Waivers on Iran, Talks Enter Final Stage

Biden Administration on Friday has restored sanctions waivers on Iran that will allow nuclear cooperation projects. The Iran-U.S. talks on reinstating the 2015 nuclear deal have entered their final stage. The waivers had designated Chinese, Russian and European companies to carry out non-proliferation efforts to make it harder for Iran to develop weapons at nuclear sites. The Trump Administration pulled out of the 2015 nuclear deal and removed the waivers in 2019 and 2020.  

U.S. Gas Exports to Europe Surpassed Russian Deliveries for the First Time in History

U.S. LNG exports to the European Union has surpassed Russia’s pipeline deliveries so far in January for the first time in history as high prices in Europe have drawn more U.S. supplies, and Russian supplies have continued to go down. 

U.S. Led Chip 4 Group Gathered for Preliminary Meeting

The United States led semiconductor group, dubbed the “Chip 4”, gathered at first meeting to discuss how to strengthen the semiconductor supply chain on the back of a two year global chip shortage. The global chip crunch has forced some automakers to suspend production, thrust chip powerhouse Taiwan into the spotlight and has made supply chain management a bigger priority for governments around the world.

Stay informed

error: This content is protected !!