Luxury car maker set out aims for the next decade
Volvo has laid out “operational ambitions" for electrification, self-driving and subscription services, which it hopes to achieve by 2025.
As previously announced, the Chinese-owned automaker hopes to generate half its annual sales from pure-electric vehicles (EV) by 2025. If this comes to pass, it’ll be quite an achievement given it's yet to announce a mass-market pure-electric vehicle.
Last year, the company announced that all the cars it launches from 2019 onwards will feature electrified drivetrains, be they mild hybrid, plug-in hybrid or pure electric.
Furthermore, Volvo says "one third of all cars sold [will] be autonomous driving cars” by 2025, although it hasn’t stated what level of autonomy these vehicles will have.
Volvo believes it can not only increase sales, but also achieve profit levels in line with other premium automakers. It says its growing range of cars will help it shift more vehicles, but also expects to supply vehicles to the "new segment of autonomous ride-hailing companies”, with a contract already sewn up with Uber.
For the last few years Uber has developed its self-driving car technology on a fleet of Volvo XC90 crossovers. The ride-hailing firm had to suspend all public road testing in March after one of its vehicles struck and killed a pedestrian in Arizona.
Uber hopes to restart public tests in Pittsburgh and San Francisco some time this year.
Volvo also believes "half of all cars it offers to customers [will come] from its subscription service”. Altogether, the Swedish marque hopes to have “five million direct consumer relationships” by 2025, thereby ensuring its long-term future through recurring sources of revenue.