# Exclusive: Volvo readies EV blitz in biggest product revamp under Geely Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-02-02 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Volvo Cars Electric Blitz: New Models to Transform Line-Up Meta Description: Get ready as Volvo Cars plans to electrify its entire lineup by 2030, introducing luxury electric van for Asian markets. Stay tuned for the electric revolution! URL: https://financedigest.com/exclusive-volvo-readies-ev-blitz-in-biggest-product-revamp-under-geelyhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-02-02t051918z1lynxmpej11057rtroptp4global-autos-1736814517163-compressed.jpg) By Norihiko Shirouzu (Reuters) – Volvo Cars is gearing up for an electric blitz to convert all its mainstay models – three SUVs and two sedans – into electric vehicles and to introduce a luxury electric van aimed at boosting sales in Asia, two people with knowledge of the plans said. The Swedish carmaker, wholly owned by China’s Zhejiang Geely Holding Group, is expected to launch at least six new battery electric vehicles through 2026, the two people told Reuters. [Volvo has announced an objective to make its entire lineup fully electric](https://www.financedigest.com/swedens-ab-volvo-wins-its-largest-electric-truck-order-so-far.html "Sweden’s AB Volvo wins its largest electric truck order so far") by 2030. The company’s Australia [unit has said it plans to sell](https://www.financedigest.com/orban-tightens-hold-over-telco-sector-as-vodafone-sells-hungarian-unit-2.html "Orban tightens hold over telco sector as Vodafone sells Hungarian unit") only EVs in that market by 2026. The previously unreported product plans amount to the [largest revamp of Volvo’s model line-up since](https://www.financedigest.com/first-quarter-dash-for-cash-largest-since-early-2020-bofa.html "First quarter ‘dash for cash’ largest since early 2020 -BofA") Geely acquired the brand from Ford Motor Co in 2010. Under Geely, [Volvo initially started to share technologies such as car](https://www.financedigest.com/volvo-cars-to-axe-1300-jobs-as-it-steps-up-cost-cuts.html "Volvo Cars to axe 1,300 jobs as it steps up cost cuts") platforms with Geely. The makeover for Volvo, a Swedish brand that built a reputation for safety and utilitarian design, follows from a greater focus on customer trends in Asia and a push to [win sales](https://www.financedigest.com/hermes-asks-court-to-block-metabirkin-nft-sales-after-jury-win.html "Hermes asks court to block ‘MetaBirkin’ NFT sales after jury win") there, the people said. The two people with knowledge of Volvo’s [planning asked not to be named because details have not been announced](https://www.financedigest.com/mastek-announces-multi-million-pound-investment-plan-uk.html "Mastek announces multi-million-pound IT investment plan for UK") by the company. Geely declined to comment. Among the new battery electric [cars being planned for the next](https://www.financedigest.com/6-tips-to-save-money-on-your-next-used-car-purchase.html "6 Tips to Save Money on Your Next Used Car Purchase") four years is a Volvo-branded MPV or van that would be based on a vehicle Geely’s Zeekr brand sells in China. Called the Zeekr 009, the hulking, battery-electric van, which starts at about 500,000 yuan ($74,179), offers three rows of seating. The vehicle competes against the likes of the Toyota Alphard, a [business or family van, with airplane business class-like seats for passengers that has proven popular in Asian markets such as China](https://www.financedigest.com/lighting-maker-signify-cuts-2022-outlook-again-on-china-business-lighting.html "Lighting maker Signify cuts 2022 outlook again on China, business lighting") and Japan as a limousine alternative. Volvo has [moved development work on sedans and the coming people-mover model](https://www.financedigest.com/investment-advice-moving-towards-a-new-model.html "Investment advice – moving towards a new model") to its Shanghai research and development hub, they said. That centre, which has tripled its design staff to about 60 people, has recently moved to a new and larger building in Shanghai, one of the sources said. The first of Volvo’s new planned electric models, the EX90 sport-utility crossover, was [unveiled late](https://www.financedigest.com/stellantis-unveils-ram-ev-pickup-to-debut-late-in-2024-at-new-york-auto-show.html "Stellantis unveils Ram EV pickup, to debut late in 2024, at New York auto show") last year. It is [expected to hit](https://www.financedigest.com/uks-dominos-expects-tech-investments-to-hit-2023-profit.html "UK’s Domino’s expects tech investments to hit 2023 profit") showrooms in early 2024. Other [battery electric cars](https://www.financedigest.com/scratched-ev-battery-your-insurer-may-have-to-junk-the-whole-car.html "Scratched EV battery? Your insurer may have to junk the whole car") in the pipeline include electric versions of Volvo’s mainline products – the XC90, XC60 and XC40 crossover vehicles and the S60 and S90 sedans, the sources said. Those mainline cars will follow Volvo’s established, simple design cues, but the new MPV will target buyers in [China and other markets with a more “emotional” design](https://www.financedigest.com/keysource-awarded-major-contract-to-design-nationwide-network-of-data-centres-throughout-china.html "KEYSOURCE AWARDED MAJOR CONTRACT TO DESIGN  NATIONWIDE NETWORK OF DATA CENTRES THROUGHOUT CHINA") that builds from the Zeekr 009, which features a massive, LED-illuminated grille, one of the sources said. Volvo has carved out and sold its gasoline [engine and hybrid powertrain operations to Geely](https://www.financedigest.com/renault-geely-ink-pact-with-aramco-for-engine-venture.html "Renault, Geely ink pact with Aramco for engine venture"). The [Chinese automaker](https://www.financedigest.com/german-automakers-fight-to-defend-their-turf-from-chinese-rivals.html "German automakers fight to defend their turf from Chinese rivals") has moved to combine all of its gasoline powertrain assets, including those from Volvo, with factories being carved out of Renault to create a new company focused on hybrid and gasoline engines. Renault and Geely are working to finalise a deal to [bring Saudi Aramco in as an investor](https://www.financedigest.com/worlds-best-islands-bring-holidaymakers-and-investors-flocking-to-the-philippines.html "‘World’s best islands’ bring holidaymakers and investors flocking to the Philippines") and partner in that venture, Reuters has reported. (Reporting by Norihiko Shirouzu; Additional reporting by Kevin Krolicki; Editing by Stephen Coates) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---