Major Automobile Company to enter global electric car market by 2025

Swedish Luxury car maker Volvo is planning to launch their electric cars worldwide. Volvo targets to produce one million electric cars to enhance their worldwide market share. Volvo owns by Chinese car making Geely Company to produce electric cars. The company has planned to set up the range of mild-hybrids with a 48-volt battery, plug-in hybrids, and electric vehicles, starting in 2019.

As increased demand of electric cars in market share, all core car manufacturing companies are now focusing on their production of electric cars to make a distinct position in the market. Electric cars being considered as the future of transportation and  will change the economic situations of countries. Volvo is designing its cars as per the trend to run in the competition race. “We anticipate a big turn starting with 2021,” Green told in an interview. “We are rolling out our first full battery electric vehicle in 2019 with the Polestar, which will still be a niche, after 2021, it will become bigger with Polestar 2 followed by Polestar 3,” he said. “Eventually, by 2025 you could see half of our vehicles sold being fully electric.”

Volvo admits there are infrastructure challenges and explored capabilities of wireless charging and fast charging. “The most suitable solution is a fast-charging of 30-40 minutes,” Green said. “Wireless charging is suitable but it is slow, and swappable batteries are awkward. If there is a quick charging result available in 30-40 minutes, then changing is not needed,” he added.

By 2025, transport will change radically and hence it will be an attention grabbing aspect. Volvo is planning for the same preparing itself for the change in the automobile industry.

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