Volvo Cars reveals the largest and most ambitious global product push in its 99-year history, launching 13 all new cars between now and the end of 2030.
By then,
Volvo Cars will have a clear regionalised portfolio with electrified cars,
all-electric as well as third-generation hybrids, developed for regional
markets. The product plan contains seven new cars for Western markets, and six
new cars for China. More details will be revealed during Volvo Cars’ Strategy
Update later today in Stockholm.
With the
product plan, Volvo Cars aims to double its market share by increasing its
addressable market in the fast-growing fully electric (BEV) segment, as well as
with third-generation hybrids for customers still reluctant to go fully
electric. This new product offensive will be a significant factor in Volvo
Cars’ efforts to build a company that in the long term is capable of achieving
strong growth and an EBIT margin beyond 8 per cent.
“Our
showrooms will look very different in 2030. This is our strongest product pipeline
ever, tailored to regional needs, and emphasises our ambition to be the leading
premium car brand,” says
Håkan Samuelsson, president and CEO.
The new
product push will also include cars in new segments, broadening the offer in
each of its three main regions: Europe, the US and China. It will take Volvo
Cars into the next era of design and broaden the range of the Volvo brand.
As the new
software-defined and electrified cars for Western markets will use the
company’s industry-leading HuginCore computing platform and be based on the
SPA2 and SPA3 architectures, investments in its technology stack and
manufacturing will decrease from today’s levels.
By using
its unique collaboration with Geely, Volvo Cars will develop attractive new and
electrified cars that are extremely competitive in China. The two companies
will also work together on shared platforms, a dedicated tech stack for China
and a shared parts and supply chain to develop cars in a highly cost-efficient
way.
Volvo Cars
will combine its product offensive with a new commercial model built on
simplicity, transparency and precision. Getting a new Volvo will become even
easier, with transparent pricing, streamlined offers and with special
fast-delivery versions. Regular over-the-air software updates and a convenient
and all-inclusive Care offer are aimed at further building the relationship
between Volvo Cars and its customers.
“Our
product offensive builds on four unique strengths: regionalised product
offerings, leadership in electrification, unique synergies with Geely, and
complete customer offers that goes beyond the car alone,” says Håkan Samuelsson. “Enabled
by a high-performing organisation and affordable frames for investment and
cost, these strengths position us for growth and increased profitability.”
The Volvo
Cars Strategy Update, an event for investors and media in Stockholm, takes
place between 9-12 CET and will be livestreamed online here.
Fr:
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