Swedish car maker Volvo are aiming to release its first all electric powered car in 2019 and to achieve 1 million sales by the year 2025.
This has been described as a "deliberately ambitious target" by president and CEO of Volvo Cars, Håkan Samuelsson. The Swedish firm also aim to offer at least two hybrid variants on each of its models. Over the last five years Volvo have developed two new platforms that are able to incorporate hybrid or fully electric technology.
They are called Scalable Product Architecture (SPA) and Compact Modular Architecture (CMA). The SPA will be used on the 90 series and 60 series, whereas the CMA will be used on the 40 series. All three of these models will come be offered as an electric model as the firm strive towards its 1 million target.
This comes as part of Volvo's strategic sustainability programme announced earlier this week. The programme consists of new commitments that puts sustainability high on the list of the Swedish firm's priorities. The commitment has been labelled 'omtanke', Swedish for consideration or caring in case you were wondering.
“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,” said Mr Samuelsson. “This new sustainability commitment reflects Volvo Cars’ fundamental belief that we must also grow responsibly.”