Competition warning
Volvo CEO Jim Rowan warns the competition and still calls investing in combustion engines ‘risky’. By dividing the development department’s attention between internal combustion engines on the one hand and electrification on the other, other brands risk falling behind their competitors in ‘electric market share’, he says.
Another seven years and Volvo will only sell cars without a combustion engine worldwide. This makes the brand one of the most fanatical when it comes to the electrification strategy. He came up with the brand before his current CEO took over last year, but he fully supports it. It shows, because he now even warns his competitors about missing the boat. If you still divide your attention between the development of combustion engines and EVs, you risk lagging too far behind the competition in terms of electrification, Rowan said during a conversation with shareholders. This is what Automotive News Europe reports. The Volvo CEO also expects that EVs and combustion engine cars will be about the same price as early as 2025.
The car that should be the next to level out the price difference on behalf of Volvo is the EX30. That car has yet to be revealed, but will go into production later this year and will be positioned below the XC40 and C40. Volvo is busy making arrangements for the supply of lithium, among other things, because the strongly fluctuating and strong prices for precious metals are currently causing EV prices to rise rather than fall.
EVs from Volvo
In 2025, Volvo wants half of its sales to be EVs, in 2022 that was 11 percent and in 2021 4 percent. With the XC40 and C40, the brand currently has two fully electric models in its range. At the end of the year there will be four with the appearance of the aforementioned EX30 and the EX90. In 2024 and 2025, Volvo will also unveil at least two new electric models. The brand is – according to its own CEO – ahead of the competition when it comes to its EV offering, so it does not expect to lose market share in any case.
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– Thanks for information from Autoweek.nl