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According to the official release of Volvo Automobile Group, Volvo sold 51976 vehicles worldwide in April 2023, up 10 per cent from a year earlier, with the US the only market showing a decline, falling 4 per cent to 9611 vehicles. China is Volvo's biggest growth market, up 46 per cent to 12645 vehicles. In addition, the European market grew 5 per cent year-on-year to 20804 vehicles, while other markets grew 3 per cent to 9018 vehicles.

From being acquired by Geely in 2010 to selling 171400 vehicles annually in the Chinese market in 2021, Volvo has indeed achieved a leap, but the current competition in China's automobile market is particularly fierce, especially in the context of the substantial expansion of new energy vehicles. the luxury car market began to be eroded by new power brands such as Azura and ideals, while the weak traditional second-tier luxury brands are already facing multiple crises. Therefore, compared with other traditional luxury brands, Volvo is more confident in developing electrification.

In 2021, Volvo announced a rather radical plan. Volvo says its pure electric models will account for 50 per cent of total sales by 2025, with the rest in hybrid models. By 2030, Volvo will transform into a pure electric brand, when it will sell only pure electric cars, eliminating all cars with internal combustion engines around the world. By 204, Volvo strives to become a climate zero-load benchmark, and all pure electric models will be sold online only.

The electrification transformation is considered an important part of Volvo's sustainable strategy, which means that cars powered by internal combustion engines will be completely removed from its product catalog, including hybrid vehicles. In the future, Volvo's product lineup will be made up of 100% pure electric models. Volvo plans to convert all its major models into electric cars, including three SUV (XC90, XC60, XC40) and two cars (S60, S90), as well as a luxury electric van to boost sales in the Asian market, according to foreign media reports.

On April 16, the Volvo EX90, which was released nearly five months ago, made its debut in China. In terms of power, the Volvo EX90 will be equipped with front and rear permanent magnet motors and provide two versions of high and low power. Among them, the maximum power of the low-power version is 407hp and the maximum torque is 770Nm; the high-power version is 503hp and 910Nm; it is understood that the Volvo EX90, which is based on the SPA2 platform, will be pre-sold in the second half of the year and will be made in China this year and will be officially listed in 2024.

Electrification transformation is considered to be an important part of Volvo's sustainable strategy. "to maintain our market leadership, we must invest more in electrified models and new business models," said H å Samuelson, president and chief executive of Volvo Automotive Group. Volvo is committed to becoming the market leader in the luxury brand pure electricity segment.

Volvo has high hopes for EX90, trying to dispel the impression that its past "oil-to-electricity" models have poor technical strength. Previously, Volvo launched a number of new energy models in China, but the market performance is mediocre. At the Shanghai auto show, Volvo held a technical press conference full of gunpowder. Qin Peiji, president of Volvo Automobile sales Company Greater China, said bluntly at the press conference: "the new power will, we will learn in three years; we will, the new power will not learn in ten years."

Volvo is one of the first traditional luxury brands to start electrification transformation, and it is also the first traditional car company in the world to abandon the production of internal combustion engines, but the pace and speed of transformation of new energy products are not fast, basically from oil to electric models. According to the official website, Volvo currently implements four domestic models in China, including S90, S60, XC60 and XC40, of which S90, S60 and XC60 launch plug-in hybrid models on the basis of fuel vehicles, while XC40 launches pure electric models on the basis of fuel vehicles. However, Volvo electric cars perform poorly in the Chinese market. The data show that XC40 RECHARGE sales in the first quarter of 2023 were 1229, followed by XC60 RECHARGE with 1221 and S90 RECHARGE with 936.

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