Volvo targets 100% electric vehicle portfolio - Smart Energy Decisions

Energy Efficiency, GHG Emissions, Industrial  -  July 5, 2017

Volvo targets 100% electric, hybrid vehicle portfolio

Volvo Car Group announced July 5 that all its vehicles released after 2019 will have an electric motor, marking its transition away from reliance on internal combustion engines.

The international automobile company, owned by the Chinese company Geely Holding since 2010, plans to roll out a portfolio of electrified cars including fully electric, plug-in hybrid and mild hybrid cars in 2019, according to a news release. All models of Volvo cars will have petrol and diesel plug-in hybrid and mild hybrid 48-volt options, in addition to a rollout of five new fully electric car models, which are planned to launch between 2019 and 2021.

“This announcement marks the end of the solely combustion engine-powered car,” said Håkan Samuelsson, president and chief executive, in a press release. “Volvo Cars has stated that it plans to have sold a total of 1 [million] electrified cars by 2025. When we said it we meant it. This is how we are going to do it.”

The 100% electric vehicle commitment aligns with Volvo Cars’ goal to have climate neutral manufacturing operations by 2025.

In a press conference streamed online following the announcement, Henrik Green, senior vice president of research and development, said the company does not have a battery supplier lined up for the new models yet.

“When it comes to batteries, it’s a highly competitive and important component in the future of pure battery electric vehicles,” Green said. “At this point, we haven’t finally decided which supplier we will kick off with but we are looking at all suppliers out there on the market today. That will be a key part of being competitive going forward: to always stick with the most successful and innovative supplier for that point in time.”

Samuelsson added that the announcement should serve as an invitation to those interested in investing in battery manufacturing and charging infrastructure as the electric vehicle market continues to grow.

“We need new players, we need new competition,” Samuelsson said.

The announcement is one of the boldest yet from an automobile company as the broader group looks to reduce their environmental impact and embrace new, energy efficient technologies. Emissions from the automotive sector recently surpassed those from the power sector for the first time since the 1970s, according to the U.S. EIA. (link: /energy-management/2017/02/01/power-sector-emissions-drop-below-transportations)

Keywords: Volvo

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