In a statement, Volvo said its first EV will go on sale in 2019, and will be made in China for both local and global consumption.
The Volvo EV will be based on the Compact Modular Architecture (CMA), which will serve as the basis of the upcoming XC40 crossover, S40 sedan and V40 hatch or wagon, as well as the Lynk & Co 01 SUV and 03 sedan.
According to Volvo, the decision to make its first pure electric vehicle in China stems from the fact that China is already the world's largest market for electrified cars. The government is incentivising EV and hybrid cars as a way of reducing the chronic pollution problems plaguing its numerous large cities.
It's unknown at this stage whether Volvo's first EV will share a body shell with its next-generation 40-Series brethren, or whether it will sport a completely unique design.
Earlier this year, Lex Kerssemakers, head of Volvo Car USA, told Automotive News the new EV would need a driving range of 400km, and a starting price between US$35,000 and US$40,000 ($46,600 and $53,200) in order to be a success Stateside.
The company hopes to sell a combined total of one million plug-in hybrids and pure EVs by 2025.