Volvo Revises EV Strategy With 10 New Models By 2026

In a strategic shift in the electric vehicle (EV) industry, Volvo Cars has presented a revised product roadmap to its North American dealers. Moving away from its previous all-electric goal while still maintaining a strong focus on electrification, the company plans to launch ten new or updated models within the next two years.

Volvo has updated its strategy, aiming for 90% to 100% of its sales to come from EVs and plug-in hybrids (PHEVs) by 2030 according to Automotive News. This marks a shift from its earlier goal of becoming a fully EV automaker by the same year. To support this transition, the company plans to introduce ten new or refreshed models over the next 24 months, spanning both EVs and hybrids.

As part of this plan, Volvo dealers recently got a glimpse of the refreshed XC90 and had the opportunity to test drive the U.S.-built EX90 electric SUV, which is set to launch later this year.

Upcoming Models

Looking ahead, Volvo has several exciting models in the pipeline. The ES90, an electric sedan, is aimed for a 2025 release and will be manufactured in both China and Sweden. In 2026, the EX60, an electric mid-size SUV, is expected to make its debut. Additionally, Volvo plans to roll out new long-range plug-in hybrid models with significantly improved electric driving range, further enhancing its hybrid offerings.

Read More: Volvo Unveils Bold EV Vision With Upcoming EX60, ES90 And New SPA3 Platform

Technological Advancements

Volvo introduced its ‘Superset’ modular construction kit for systems, modules, software, and hardware. This approach, already implemented in the EX90, aims to streamline development across different models.

The company is also transitioning to the SPA3 platform, offering increased computing power and greater scalability. This platform will debut with the EX60 in 2026 and is expected to reduce investment costs while improving future cash flow.

Market Response and Strategy

While U.S. sales of Volvo’s first-generation electric models declined by 74% in the first half of the year, PHEV sales surged by 75%. In response, Volvo is committed to maintaining competitive mild hybrid and plug-in hybrid technology alongside its EV lineup.

“We’re making sure that we’re going to keep the mild hybrid and the plug-in hybrid technology competitive and in the range until 2030 and beyond, if need be,” stated Bjorn Annwall, Chief Commercial Officer at Volvo.

Read More: Volvo Scales Back 2030 EV Pledge Amid Shifting Market Dynamics

Long-Term Vision

Despite the adjusted targets, Volvo maintains its long-term goal of “full electrification” and achieving net-zero greenhouse gas emissions by 2040. The company’s flexible approach allows it to adapt to market conditions while continuing to innovate in both EV and hybrid technologies.

As Volvo navigates the changing automotive landscape, its revised product roadmap demonstrates a pragmatic approach to electrification, balancing innovation with market realities and customer preferences.

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