Volvo is launching a comprehensive product offensive to increase its profitability and double its global market share. As part of the company's plan, 13 entirely new models will be developed by 2030. These vehicles will be designed for different markets and will offer electric and hybrid engine options.
7 Models for Europe and America
Seven of the new models will be available in Western markets, including Europe and North America. The other six models will be developed specifically for the Chinese market. Volvo aims to better meet customer expectations in different markets with products tailored to regional needs.
Volvo recently introduced updated versions of its XC40, EX40, EC40, and XC60 models. The company also developed a new rechargeable hybrid powertrain for the XC60 and XC90, offering an all-electric driving range of up to 200 kilometers. However, the announced 13 new models will consist of entirely new vehicles, distinct from these extensive facelift operations.
Not All Will Be SUVs
Volvo announced that its new product range will go beyond its current SUV models. The company is preparing to enter new vehicle segments. This includes the expected addition of different body types to the product range, with the return of station wagon models also among the possibilities.
The change in the brand's design philosophy will be showcased with a new concept vehicle to be introduced in 2027. This new concept will offer the first clues as to how Volvo's future design language will be shaped.
Western and Chinese Markets Will Differ
The new models Volvo will develop for Western markets will be based on the SPA2 architecture used in the EX90 and ES90 models, and the SPA3 architecture that forms the basis of the EX60 model. The vehicles will utilize the HuginCore computing platform.
For models developed for the Chinese market, joint platforms and a region-specific technology infrastructure will be preferred in collaboration with Geely. The company aims to increase the component commonality among Geely Group vehicles from the current 10 percent to 30 percent by 2030.
Volvo President and CEO Hakan Samuelsson stated that with the new product plan, the brand's showrooms will significantly change by 2030. Samuelsson expressed Volvo's goal as becoming a leading premium automobile brand.
Volvo will also increase the number of electric vehicles in line with its goal of doubling its market share. Additionally, third-generation hybrid powertrains will be offered for customers not yet ready to transition entirely to electric vehicles.
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