Volvo, the Swedish-based luxury carmaker has set a target of selling half of its cars globally as full electric by 2025, as awareness of climate change push carmakers to offer alternative fuel sources to power vehicles.
Being the first to announce its intention of reducing the focus on diesel and shifting towards electrified vehicles, Volvo, owned by the Chinese carmaker Geely is likely to attain its goal of electrifying its entire fleet by 2019 itself.
Despite being the smallest amongst luxury car makers, Volvo has been in the forefront of delivering safest and lower emission vehicles as it aims to gain a larger foothold in a market dominated by Germans - Mercedes Benz, Audi, and BMW.
The company has set a target of selling one million electrified cars by 2025, as it completely revamps it's portfolio with a range of mild-hybrids with a 48-volt battery, plug-in hybrids, and electric Vehicles starting 2019 itself.
In an interview to ET, Henrik Green, Sr VP, R&D, Volvo Car said the immediate alternative to the cleaner world is PHEV or plug-in hybrid vehicle and the next step is battery operated electric vehicles.
"We anticipate a big turn starting with 2021, we are rolling out our first full battery electric vehicle in 2019, with the Polestar, which will still be a niche, after 2021, it will become bigger with Polestar 2 followed by Polestar 3, eventually by 2025 you could see half of our vehicles sold being fully electric," said Green.