Many manufacturers are scaling back their EV production due to disappointing demand. According to Volvo director Jim Rowan, his brand is not hurting a cent. Partly thanks to the new Volvo EX30, he expects significant growth.
Rowan believes that Volvo is in perfect health. According to him, the manufacturer is still on track to go fully electric by around 2030. By 2025, Volvo expects to sell 1.2 million passenger cars, half of which will be fully electric. Five years later, the brand still wants to build exclusively electric cars.
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Automotive News Rowan asked whether recent reports of declining demand for electric vehicles will impact Volvo's electrification plans. Rowan downplays this and calls it 'noise'. Rowan explains that various manufacturers have proven to achieve great successes through electrification.
That's probably what he means Tesla in BYD. “The technology is proven and is selling in abundance,” Rowan said. He fully agrees with the words of Volvo's technical director Henrik Green from 2021, 'that there is no future for cars with a combustion engine'.
According to Rowan, there is no slowdown in demand for electric cars globally. On the contrary. He points to the global sales record for EVs in November 2023. Nearly 1 million electric passenger cars were sold in that month.
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Volvo's early decision to go fully electric is paying off, according to Rowan. Despite rising interest rates and higher inflation, Volvo expects double-digit sales growth this year. With the new Volvo EX30, the Swedes expect to benefit mainly from the increasing demand for cheaper electric cars. In addition, Volvo expects to appeal to a younger target group with the EX30. But also the Volvo C40 and the electrical Volvo XC40 continue to do well, Rowan said.
With the Volvo EX90 the Swedish brand will soon have another iron in the fire. With this large SUV it offers an electric alternative to your own Volvo XC90but also for the Tesla Model X.
Earlier this month, EV sales in the United States reached a milestone. Then EV sales reached one million within a year. And demand continues to rise. With new, more affordable models and the expansion of charging options, electric car sales in the US are expected to continue to rise.
This post was last modified on December 14, 2023 9:40 am
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