The multinational auto manufacturer, Volvo, is looking to go all out on its venture of providing clean and green automobiles by 2019. On a recent announcement, the Swedish-based auto manufacturer said that they’ll be planning on launching cars that will either be hybrid or electric autos.
President and chief executive, Hakan Samuelsson said “This announcement marks the end of the
Volvo is currently owned by Chinese group Zhejiang Geely Holding Group has unveiled that they are looking to develop and produce five new car models on the span of few years, from 2019 to 2021. According to the company, three of the new models will be wearing the brand Volvo and the two others are going to be under Polestar’s brand, and all of them will be fully electronic.
The company mentioned that "These five cars will be supplemented by a range of petrol and diesel plug-in hybrid and mild hybrid 48-volt options on all models," and "This means that there will in future be no Volvo cars without an electric motor."
The automobiles’ production will be done in all Volvo’s worldwide factories that; Volvo currently owns factories from Europe and China, a United Stated one is on its way. According to Samuelsson, the budget will be following their current and existing budget plans.
Volvo’s Clear Strategy
The Swedish-based automobile is looking to stray from the heaving and stronger emissions requirements on vehicles on today’s standard, and looking at parts and batteries for producing an electric car are getting cheaper by the second. Since Volvo is owned by Geely; they can also monopolize on the tightening emission requirements in China by providing hybrids and electric cars, introducing them for greener and cleaner alternatives.
Volvo’s announcement that they are shifting from their traditional cars to electric ones, hybrids included, is a very smart move; this action will cement a position in the saturated market, and it can even post a leadership position in the near future. The company is looking to join the likes of BMW; they are also looking to shake their selection with new electric versions of their popular series as an answer to tesla’s growing grasp on the electronic car market.
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