Unique: Volvo readies EV blitz in largest product revamp below Geely

Feb 2 (Reuters) – Volvo Automobiles is gearing up for an electrical blitz to transform all its mainstay fashions – three SUVs and two sedans – into electrical automobiles and to introduce a luxurious electrical van geared toward boosting gross sales in Asia, two folks with information of the plans stated.

The Swedish carmaker, wholly owned by China’s Zhejiang Geely Holding Group, is anticipated to launch a minimum of six new battery electrical automobiles via 2026, the 2 folks informed Reuters.

Volvo has introduced an goal to make its complete lineup totally electrical by 2030. The corporate’s Australia unit has stated it plans to promote solely EVs in that market by 2026.

The beforehand unreported product plans quantity to the biggest revamp of Volvo’s mannequin line-up since Geely acquired the model from Ford Motor Co (F.N) in 2010.

Underneath Geely, Volvo initially began to share applied sciences corresponding to automobile platforms with Geely.

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The makeover for Volvo, a Swedish model that constructed a fame for security and utilitarian design, follows from a higher deal with buyer traits in Asia and a push to win gross sales there, the folks stated.

The 2 folks with information of Volvo’s planning requested to not be named as a result of particulars haven’t been introduced by the corporate. Geely declined to remark.

Among the many new battery electrical automobiles being deliberate for the subsequent 4 years is a Volvo-branded MPV or van that may be primarily based on a automobile Geely’s Zeekr model sells in China.

Referred to as the Zeekr 009, the hulking, battery-electric van, which begins at about 500,000 yuan ($74,179), provides three rows of seating.

The automobile competes towards the likes of the Toyota (7203.T) Alphard, a enterprise or household van, with airplane enterprise class-like seats for passengers that has confirmed fashionable in Asian markets corresponding to China and Japan as a limousine various.

Volvo has moved growth work on sedans and the approaching people-mover mannequin to its Shanghai analysis and growth hub, they stated. That centre, which has tripled its design workers to about 60 folks, has not too long ago moved to a brand new and bigger constructing in Shanghai, one of many sources stated.

The primary of Volvo’s new deliberate electrical fashions, the EX90 sport-utility crossover, was unveiled late final yr. It’s anticipated to hit showrooms in early 2024.

Different battery electrical automobiles within the pipeline embrace electrical variations of Volvo’s mainline merchandise – the XC90, XC60 and XC40 crossover automobiles and the S60 and S90 sedans, the sources stated.

These mainline automobiles will comply with Volvo’s established, easy design cues, however the brand new MPV will goal consumers in China and different markets with a extra “emotional” design that builds from the Zeekr 009, which encompasses a huge, LED-illuminated grille, one of many sources stated.

Volvo has carved out and bought its gasoline engine and hybrid powertrain operations to Geely.

The Chinese language automaker has moved to mix all of its gasoline powertrain belongings, together with these from Volvo, with factories being carved out of Renault (RENA.PA) to create a brand new firm targeted on hybrid and gasoline engines.

Renault and Geely are working to finalise a deal to carry Saudi Aramco (2222.SE) in as an investor and associate in that enterprise, Reuters has reported.

Reporting by Norihiko Shirouzu; Further reporting by Kevin Krolicki; Modifying by Stephen Coates

Our Requirements: The Thomson Reuters Belief Rules.

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