The XC40 P8 Recharge is currently Volvo’s only fully electric model, but that will soon change. In March 2021, the brand will pull the curtain on its second EV.
Volvo CEO Hakan Samuelsson tells Automotive News Europe that Volvo will present a new, second electric car on March 2, 2021.
According to the Volvo CEO, the second EV from Gothenburg shares its CMA base with the XC40. It is not yet entirely clear what exactly we can expect. In 2016 Volvo showed the 40.1 and 40.2 Concepts. The 40.1 eventually became the already mentioned Volvo XC40, the design of the 40.2 Concept was transferred to Polestar for the Polestar 2.
According to CEO Samuelsson, Volvo’s second EV will have a “more streamlined” body than the XC40, but it seems unlikely that Volvo will get a model with the design of the 40.2 Concept in addition to Polsestar. However, the CEO indicates that the electric newcomer is not a successor to the now-defunct V40. According to the CEO, Volvo has little to look for in the segment of the V40. “In order to be profitable, we need to focus more on the premium segments,” said the Volvo leader.
Volvo is increasingly drawing attention to EVs. The Swedes, for example, will phase out the number of plug-in hybrids in the coming years and at the same time add more fully electric models to the portfolio. Around 2030, Volvo will only have EVs on the menu. The brand has also set itself the goal of ultimately having the entire production process of electric motors take place indoors.