Volvo Reportedly Plans Turning All Its Core Models Into EVs By 2026

Volvo Cars is reportedly planning a massive EV offensive that will see all its core models be converted into electric vehicles by 2026.

According to two people with knowledge of the plans cited by Reuters, Volvo aims to convert the next generations of the S60 and S90 sedans into EVs, as well as the XC40, XC60 and XC90 SUVs.

Now, it’s worth noting that Volvo already sells an all-electric XC40 – the Recharge – and the automaker recently unveiled the EX90 all-electric mid-size SUV, which is widely considered the electric equivalent to the XC90. The EX90 is that and more, as Volvo refers to it as its all-electric SUV flagship.

The sources also noted that Volvo Cars has plans to introduce a luxury electric minivan aimed at boosting sales in Asia. All in all, they said Volvo Cars, which is 82-percent owned by China’s Geely Group, is expected to launch at least six new battery electric vehicles through 2026, including the already unveiled EX90 set to hit showrooms in early 2024.

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Battery electric cars in the pipeline include electric versions of the Volvo XC90 (i.e. the EX90), XC60 and XC40 SUVs and the S60 and S90 sedans, the sources said. The new launches are part of Volvo Cars’ previously announced goal to have a fully electric lineup by 2030.

If the reported product plans are accurate, they would amount to the largest revamp of Volvo’s model lineup since Geely purchased the brand from Ford Motor Company in 2010.

The sources also said the makeover for Volvo comes as the company places a greater focus on Asia and customer trends there. One of the sources said Volvo has moved development work on sedans and the coming minivan to its Shanghai research and development hub that recently tripled its design staff to about 60 people.

Speaking of Volvo’s electric minivan, it would be based on a new model Geely sells in China, the Zeekr 009 electric luxury MPV. The three-row model entered production last month in China and is priced from about 500,000 yuan or just under $75,000.