The Swedish firm, which aims for 50% of its world sales to correspond to this type of vehicle by the middle of the decade, will first electrify its popular SUV range (XC40, XC60, XC90) and later the rest of its lineup ( S60/V60, S90/V90).
Jim Rowan, CEO of Volvo, believes that price parity between electric and thermal models could happen in two or three years, much sooner than most of his competitors predict. All in all, we must not lose sight of the fact that we are talking about a premium manufacturer with higher rates than the bulk of the sector, something that will facilitate the achievement of this milestone.
The manager remarked during a recent interview that electric cars should stop depending on state aid to be competitive against their thermal equivalents, statements that occur just when Sweden decided to completely abolish them. “No business should be dependent on government subsidies to prosper. “
According to Rowan, the cost reduction of electric vehicles will come largely from the arrival of a new generation of batteries. “ We think we will reach price parity around 2025, when […] the cost of batteries will come down. Technology will increase autonomy. Fewer batteries, but more range, at a lower cost: that’s what we’ll get. “
Volvo will be 100% electric from 2030
Volvo’s electric offering currently consists of the XC40 Recharge and C40 Recharge, two compact SUVs that could be renamed EX40 and EC40 in the short term to differentiate themselves from the plug-in hybrid XC40 Recharge and C40 Recharge (Volvo’s BEV and PHEV for the moment share last name, something that is confusing to customers).
Next year, the recently introduced EX90 will join this lineup, an executive SUV called to replace the long-lived XC90. This model will become the new flagship of the Scandinavian firm. Also in 2023, the EX30 will be revealed, an urban SUV derived from the smart #1 that will occupy the entry level to the range. The next Volvo to be electrified will be the XC60, whose new generation will be renamed EX60. Like the EX90, it will live alongside its thermal predecessor for a while, which is available in mild-hybrid and plug-in-hybrid versions.