Volvo unveils small car strategy
- May 19, 2016
- Posted by: Simon Wait
- Category: Industry News
Volvo Cars has unveiled two new concept cars that move the Swedish brand in an audacious new direction and mark the official launch of its global small-car strategy.
The newly revealed 40 series concept models demonstrate for the first time how Volvo plans to expand into the large and lucrative global market for premium small cars with a range of vehicles that offer connectivity, electrification and autonomous drive technologies.
The new concept cars will be the first built around Volvo’s new Compact Modular Architecture (CMA), which has been specially created for smaller cars. The range will include a pure-battery electric vehicle as well as twin engine plug-in hybrid powertrain variants, in line with the company’s commitment to the electrification of its entire portfolio. Volvo plans to have sold a total of up to one million electrified cars by 2025 globally.
‘By taking a modular approach to both vehicle architecture and powertrain development, we have succeeded in leap-frogging many of the players in the premium segment,’ said Dr Peter Mertens, senior vice president, research and development. Volvo Cars. ‘Our new battery electric powertrain variant opens yet another exciting chapter in the unfolding Volvo story.’
Volvo’s small-car strategy is an essential element in its ongoing global operational and financial transformation. The Swedish company is currently implementing an ambitious revitalisation plan that will reposition the brand to compete with its global premium competitors within the next four years.