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Volvo updates its electrification strategy, aiming for 90-100% electrified sales by 2030, and launches the new EX90 SUV with advanced technology.
Volvo Cars has announced a significant adjustment to its electrification timeline, delaying its goal of becoming fully electric by 2030. Instead, the company plans to electrify 90-100% of its sales. This means a mix of fully electric and plug-in hybrid vehicles will be available by 2030, with a 0-10% allowance for mild hybrids if needed.
This change reflects evolving market conditions and varying adoption rates of electric vehicles (EVs) across different regions. Despite this shift, Volvo remains committed to a fully electric future, with plans to introduce more EVs when market conditions are favorable.
Volvo’s New EV Targets and Strategic Shift
While maintaining its long-term vision for a fully electric lineup, Volvo recognizes the need for flexibility. The company aims for electrified vehicles to comprise 50-60% of its sales by 2025. A slower rollout of charging infrastructure influences Volvo’s decision, as do the reduction of government incentives in some markets and additional challenges such as tariffs on EVs.
Nevertheless, Volvo’s electrified vehicle share already stands at 48%, the highest among its premium peers, showing strong momentum toward electrification.
Volvo EX90: A New Flagship
The fully electric Volvo EX90, Volvo’s new flagship SUV, has started shipping to retailers in the United States and Europe, with first deliveries expected by the end of the month. This model symbolizes a new era for Volvo, showcasing cutting-edge safety features, sustainability, and advanced human-centric technology. Jim Rowan, CEO of Volvo Cars, praised the EX90 after a cross-country road test, emphasizing its superior handling, comfort, and technological advancements.
This SUV represents Volvo’s commitment to innovation in electric mobility. It features an AI-powered core system, advanced sensors, and the ability to evolve through over-the-air updates.
Technological Advancements and Future Outlook
The EX90 is the first Volvo model to feature a core computing system built on the Nvidia Drive platform with integrated technologies like Qualcomm’s Snapdragon Cockpit Platform. The vehicle’s AI-driven capabilities enhance safety and user experience, demonstrating Volvo’s leadership in automotive technology. The EX90 is also Volvo’s first car designed for bidirectional charging, promoting sustainable energy use.
As Volvo continues to advance its EV strategy, it remains focused on reducing its carbon footprint, targeting a 65-75% reduction in CO2 emissions per car by 2030 compared to 2018. The company’s ongoing efforts in upgrading plug-in hybrids and developing new EVs underscore its dedication to a sustainable automotive future, even as it adapts to the dynamic market landscape.
