Volvo Planning Revamp of Product Line into Battery EVs
- February 2, 2023
- Posted by: Quatro Strategies
- Category: Manufacturing
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.
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