Volvo wants to be a leader in eco-friendly vehicles.
Volvo has announced its intentions to sell one million electrified vehicles by 2025.
In order to hit this target, the company will offer at least two hybrid variants of every model it makes. The automaker also confirmed plans to offer its first battery electric vehicle in 2019.
Volvo says the decision to embrace electrification didn't have overnight as the company has been preparing for the shift for the past five years. As Volvo explained, both the Scalable Product Architecture (SPA) and new Compact Modular Architecture (CMA) were designed to accommodate hybrid and electric powertrains. The latter platform will underpin the new 40 series which will be launched "soon."
Volvo President and CEO Håkan Samuelsson acknowledged the one million vehicle target is "deliberately ambitious" but said the company "wants to be at the forefront of this shift to electrification.”
Besides confirming plans for an assortment of new hybrid and electric vehicles, Volvo intends to have climate neutral operations by 2025. The automaker also wants women to have a more prominent role in the company and is planning to have 35 percent of its "leading positions" held by females by 2020. Lastly, the company reiterated its goal of ensuring no one is killed or seriously injured in a new Volvo by 2020.