Swedish carmaker accelerates plans for an electric future.
Volvo is leading the charge for an all-electric future and wants EVs to make up 50 percent of its global sales by 2025. With new models such as the XC40 Recharge already on the market, Volvo sales have never looked better, and the company is so confident in its EVs that it plans to triple production at its manufacturing plant in Ghent Belgium in preparation to meet fast-growing demand for its Recharge line-up of EVs.
The increase in production of electric vehicles is set to triple by 2022 and will amount to 60 percent of the Belgium-based facility's production capacity.
The facility, which already manufactures the XC40 Recharge, the company's first fully electric car, is getting ready for more electric models in the near future. "Our future is electric and customers clearly like what they see from our Recharge cars. As we continue to electrify our line-up and boost our electric production capacity, Ghent is a real trailblazer for our global manufacturing network," said Javier Varela, head of global industrial operations and quality.
Volvo is also looking at expanding production at its other facilities around the globe. Volvo announced that it would assemble electric motors at its powertrain plant in Skovde, Sweden, by the end of 2022, and is also looking at moving e-motor production in-house by mid-decade.
To show just how dedicated the company is to a clean future, it will be investing 700 million SEK ($8,536,136) to speed up the shift of its e-motor production to an in-house operation. With mounting pressure by states such as California, and European nations such as Britain and France to end the production of gasoline and diesel-powered cars, Volvo is looking to make the move to electric well before it becomes a legal requirement. The future is electric, and it's looking bright for this manufacturer.