Swedish car maker Volvo has announced that it aims to sell a total of up to one million electrified cars by 2025. The company plans to achieve the target by offering at least two hybrid versions of every model in its range and releasing the first all-electric car in 2019.
"It is a deliberately ambitious target," said Hakan Samuelsson, president and chief executive of Volvo Cars, in a statement. "It is going to be a challenge, but Volvo wants to be at the forefront of this shift to electrification," he added.
The Swedish carmaker also informed that the company has been readying electrified cars for the past five years. Volvo's Scalable Product Architecture (SPA) and Compact Modular Architecture (CMA) platforms can incorporate either hybrid or fully electric car technology.
From the current Volvo lineup, the 90 series and the 60 series cars are built on SPA, while smaller 40 series cars on CMA. All of these models will be have electrified version soon and cumulative sales of all electric models aims at one million targets.
Electrified car sales target is a part of Volvo's strategic sustainability programme announced on April 21. The programme has been christened "omtanke", which is a Swedish word that means consideration or caring. The programme also envisions that Volvo will impose climate neutral operations by 2025, have 35 percent of its leading positions held by women by 2020 and no one will be killed or seriously injured in a new Volvo car by 2020.