Volvo is e-volving, pledges to go hybrid/electric from now on
Out with the old and in with the new, that's a general sentiment these days. Marking the end of an era and adapting to new sustainable society of the future, Volvo has decided to slowly let go of traditional combustion engines. Every new model of the carmaker scheduled for launch in 2019 will now have an electric motor. Here's all about it.
This is where the profit will come from
Taking a cue from the increasing demand of consumers all across the world, carmakers are now delving more towards the sustainable end of affairs. CEO Hakan Samuelsson mentioned, "Volvo Cars has stated that it plans to have sold a total of 1 million electrified cars by 2025. This is how we are going to do it."
The trend is shifting
Calling it the "historical end" of the cars that only have internal combustion engine (ICE), Volvo aims to bring five electric vehicle models in the market by 2021. For the past few years, auto industry behemoths, like BMW AG and Volkswagen AG's Audi, have also been working towards electrifying their line-ups to smoothen stringent emissions regulations that countries are imposing to reduce carbon footprint.
Tesla leads the way
The pioneer of this movement is the true blue electric car company Elon Musk's Tesla. Automakers have been noticing its immense demand and the change of preference. Thus, in the future, it can be expected that carmakers will only produce EVs and Hybrids. BMW and Mercedes expect that battery-powered cars will constitute 25% of their total sales within 10 years.
Eyes on Indian market
The NDA government is pushing hard to ensure that all vehicles plying on the road become battery-powered within a few years. This will also serve as a big impetus to several electric carmakers out there which are eyeing to make profits in Asia's second-largest economy. MD of Volvo Auto India had earlier mentioned that their EV will have an Indian launch in 2020.
