On 25 April, Volvo Cars announced that it aims to produce fully electric cars to make up 50 per cent of its sales by 2025. The company’s strategy to generate half of its sales from electric cars by 2025 positions it as a powerful player in China, the world’s leading market for electrified cars.
The Chinese government plans to have new-energy vehicles account for more than 20 per cent of the country’s annual car sales by 2025, which equates to more than seven million vehicles, based on Chinese government forecasts.
Volvo Cars currently produces the S90 and S90L T8 Twin Engine in China. This week marks the start of production for the XC60 T8 Twin Engine in China, meaning that soon all three Volvo Cars China plants – Luqiao, Chengdu and Daqing – will produce either plug-in hybrid or battery electric cars.
For more information and to view the full article, click here.
Photo credits: Volvo