If you think electric cars are just some sort of tech fad, well, don’t tell that to Volvo. The iconic Swedish carmaker – which is now owned by a Chinese holding group – just announced that every car it makes from 2019 and into the future will be an electric car, or a plug-in hybrid. A Volvo spokesperson said that the announcement marks the end of an era of Volvo producing cars powered only by gas engines.
Volvo is expected to announce five new models in 2018, including some high-performance Polestar variations. The new plan also sharpens Volvo’s focus on a key competitor: Tesla, which just announced that production of their Model 3 electric car is on schedule, if not a bit ahead of it. Tesla has over 400,000 deposits for the Model 3 in its back pocket, which represents a giant head start in the affordable all-electric car market. Can Volvo catch up? We’ll know more in two years. Story:
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