Volvo chief executive Jim Rowan believes that while the auto industry is rapidly shifting to greener and cleaner mobility solutions, which includes the development of electric powertrain technology, the pace is not enough. He has said Volvo’s rival brands have been slow to switch to electric vehicles. The Volvo chief thinks it’s an unhealthy idea to move cautiously toward an all-electric future while retaining the internal combustion engine.
Volvo’s chief executive believes the automaker risks missing out on the market by investing in both internal combustion engine and battery electric vehicles. He also added that the Swedish automaker did not want to risk missing out on the market. That’s why it has an aggressive electrification strategy and plans to go fully electrified globally within the next decade, Rowan said.
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He believes an aggressive strategy to electrify its lineup will allow the luxury automaker to capitalize on positive global demand for electric vehicles. In short, he says luxury car brands should invest more in electric powertrain technology, and they should do so aggressively.
Rowan also hinted that Volvo will launch a number of electric vehicles in the next three to four years. These will range from small entry-level crossovers to large flagship models. “The biggest problem with industry transformation is that if you don’t invest ahead of the curve, then you miss that inflection point, and you’re not ready for the market to change,” he said, further adding that Volvo is investing ahead of the curve, as Volvo’s chief executive The official further stated that the market is moving towards electrification and the industry should be prepared.
Meanwhile, Volvo is gearing up to aggressively bring its electric vehicles to India. The automaker has launched the XC40 Recharge compact crossover in India, which is currently the most affordable luxury EV in the country. Apart from that, it is now gearing up to launch the C40 Recharge in India later in 2023.
First published date: Feb 16, 2023 at 17:44 PM CST