Wednesday, April 19, 2017
Volvo Will Produce Its First Electric Car In China – The World’s Largest Market For EVs
Via Business Insider: At a car exhibition in Shanghai, Volvo’s CEO Håkan Samuelsson revealed that the Volvo’s first electric car will be produced in China, Expressen reports. Considering that China is one of Volvo’s most important markets, and increasingly so, and that the country is also the world’s biggest market for electric cars, the decision does make a lot of sense. Expressen does point out, however, that Volvo’s increasingly common practice of producing models exclusively in China to export to the rest of the world could prove a costly stratagem as President Trump considers increasing tariffs on US imports from China. More surprisingly, Volvo, also announced that the EV would be built on the car-manufacturers smaller platform corresponding to the 40-series car models, which goes against previous communications about an electric SUV. Volvo has previously declared its electric ambitions to be one million EV’s and hybrids sold by 2025. The electric car to be produced at the Luqiao factory is expected to reach the market in 2019.