Volvo publicized its goal to sell one million electrified vehicles (HEV, PHEV & BEVS) by 2025. The Swedish company intends to release its first fully-electric vehicle by 2019, all the while assuring a minimum of two hybrid options for each one of its current models.
President and CEO, Håkan Samuelsson, said:
“It is a deliberately ambitious target. It is going to be a challenge, but Volvo wants to be at the forefront of this shift to electrification.”
This new plan is part of Volvo's newly adopted strategic sustainability program. The program puts emphasis on future sustainability. It is being referred to as omtanke, meaning "consideration or caring".
“Sustainability is nothing new or something that sits outside our operations, it is something that forms an integral part of everything we do. It is simply our way of operating. This new sustainability commitment reflects Volvo Cars’ fundamental belief that we must also grow responsibly.”
Two new architecture plans, Scalable Product Architecture (SPA) and Compact Modular Architecture (CMA), have been developed by the company over the past five years, to prepare for the new initiative. Both are set up for hybrid or fully-electric accommodation. Larger vehicles like the 90 and 60 series use the SPA base. Upcoming 40 series vehicles will be built on the CMA foundation.
Aside from sustainability, Volvo is making many other new commitments for the future as well. Included in these is to employ women in 35 percent of its leading positions. Also, the company hopes that by 2020, there will be no deaths or serious injuries in any of its new vehicles.
To date, Volvo has sold just under 30,000 plug-ins through March 2016.
The Volvo Cars website contains the full Sustainability Report for viewing.