Volvo Cars is stepping boldly into the electric future with the introduction of the Volvo Xc40 Recharge, their first ever fully electric vehicle. This groundbreaking SUV not only marks Volvo’s entry into the all-electric market but also debuts their new Recharge car line concept, signaling a significant shift for the iconic automotive brand. For those considering an electric SUV, the Volvo XC40 Recharge presents a compelling option, blending Volvo’s renowned safety and design with cutting-edge electric technology.
The XC40 Recharge: Leading Volvo’s Recharge Revolution
Building upon the success of the award-winning XC40 compact SUV, the Volvo XC40 Recharge is the first in a planned family of fully electric Volvos. This model represents a pivotal moment for Volvo Cars, embodying their commitment to electrification and showcasing their innovative spirit. Beyond being their first electric car, the Volvo XC40 Recharge is also the first Volvo to feature a brand-new infotainment system powered by Google’s Android operating system, promising a seamless and intuitive user experience.
Looking ahead, Volvo Cars has announced ambitious plans for electrification. They are committed to launching a new fully electric vehicle every year for the next five years. Their goal is for all-electric cars to constitute 50 percent of their global sales by 2025, with the remaining half comprised of hybrid models. “Recharge” will serve as the overarching name for all of Volvo’s chargeable vehicles, encompassing both fully electric and plug-in hybrid powertrains. This strategy underscores Volvo’s dedication to offering a range of electrified options to meet diverse customer needs and preferences.
To further encourage the adoption of electric vehicles, Volvo Cars is taking customer-centric initiatives. Starting in early 2020, visitors to the Volvo Cars website were greeted with the choice to explore either Volvo Recharge cars or their traditional models. Additionally, every Volvo Recharge plug-in hybrid model was offered with free electricity for the first year, provided as a refund to cover average electricity costs during that period. This incentive highlights Volvo’s commitment to making electric driving more accessible and appealing to consumers.
Performance and Technology of the All-Electric XC40 Recharge
“We have stated it unequivocally: for Volvo Cars, the future is electric,” declared Håkan Samuelsson, Volvo’s chief executive. “Today marks a significant leap in that direction with the unveiling of our fully electric XC40 Recharge and the Recharge car line.” The Volvo XC40 Recharge delivers on the promise of a true Volvo, maintaining the brand’s hallmarks of safety and quality while incorporating a state-of-the-art, fully electric all-wheel drive powertrain. This powertrain provides an impressive range of over 400 km (WLTP) on a single charge and boasts a powerful output of 408 horsepower. Furthermore, using a fast-charger system, the battery can be charged to 80% of its capacity in just 40 minutes, minimizing downtime and maximizing convenience for drivers.
The integration of an Android-powered infotainment system in the Volvo XC40 Recharge is a significant technological advancement. This system is seamlessly integrated with Volvo On Call, Volvo’s digital connected services platform. Through Volvo On Call, drivers of plug-in hybrid models can monitor their electric driving time and usage, promoting a greater understanding of and engagement with electric driving.
Expanding Electric Vehicle Production and Reach
To meet the anticipated surge in demand for Recharge vehicles, Volvo Cars is proactively scaling up its production capabilities. They are committed to tripling their production capacity for electrified cars. Starting next year, Volvo Cars will also introduce a Designer’s Choice selection of popular Recharge models. This initiative aims to significantly reduce delivery times, making it easier and faster for customers to get behind the wheel of a Volvo XC40 Recharge or other Recharge models. Volvo Cars has set an ambitious target for plug-in hybrid cars to account for 20% of their total sales in 2020, demonstrating their rapid progress towards electrification.
The commitment to electrification extends across the entire Volvo model range. Every Volvo model, from the compact XC40 SUV to the flagship XC90 SUV, includes a Recharge option. Volvo Cars stands out as the only car manufacturer to offer a plug-in variant for every model in its lineup, providing customers with unparalleled choice and flexibility in embracing electric mobility.
The Volvo XC40 Recharge and the broader Recharge car line are tangible proof of Volvo’s ambitious new action plan, aligned with the Paris Climate Agreement. This plan underscores Volvo Cars’ commitment to becoming a climate-neutral company by 2040. By investing heavily in electrification and sustainable practices, Volvo is not only shaping the future of automotive technology but also contributing to a more environmentally responsible future.
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Volvo Car Group in 2018
In 2018, Volvo Car Group reported an operating profit of 14,185 MSEK (compared to 14,061 MSEK in 2017). Revenue for the same period reached 252,653 MSEK (up from 208,646 MSEK). Global sales in 2018 hit a record 642,253 cars (compared to 571,577 in 2017), a 12.4% increase year-over-year. These results highlight Volvo Cars’ successful financial and operational transformation in recent years, positioning the company for continued growth.
About Volvo Car Group
Founded in 1927, Volvo Cars is a globally recognized premium car brand, selling 642,253 cars in approximately 100 countries in 2018. Since 2010, Volvo Cars has been owned by Zhejiang Geely Holding of China.
As of 2018, Volvo Cars employed around 43,000 full-time employees. The company’s headquarters, along with product development, marketing, and administration, are primarily located in Gothenburg, Sweden. Volvo Cars also has a head office in Shanghai, China. Main car production plants are situated in Gothenburg (Sweden), Ghent (Belgium), South Carolina (USA), and Chengdu and Daqing (China). Engine manufacturing occurs in Skövde (Sweden) and Zhangjiakou (China), and body components are produced in Olofström (Sweden).
Volvo Cars’ overarching purpose is to provide customers with the Freedom to Move in a personal, sustainable, and safe manner. This vision translates into key business objectives: aiming for half of global sales to be fully electric cars and offering half of all cars through subscription services by the mid-2020s. Furthermore, Volvo anticipates that one-third of its cars sold will be autonomous by that time.
