Economic news from the company ForexMart (ForeksMart)
All “Volvo” will be electric cars
CEO of Volvo has announced that in 2020 the company’s plants will produce only hybrids and pure electric vehicles.
After 2019 the automaker refuses to car production, working only on the internal combustion engine. The company is completely reoriented on the development of electric and hybrid cars.
Hakan Samuelsson, CEO of the Volvo, said that all company cars will be equipped with electric motors in the future. Also, the automaker no longer plans to develop new models of petrol and diesel engines.
Earlier, Volvo has announced plans in 2025 to sell 1 million. EVs. The Swedish company owned by the Chinese Zhejiang Geely Holding Group. From 2019 to 2021 at plants in Europe, the US and China, Volvo plans to launch production of 5 new models, of which 3 are pure electric vehicles.
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