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Volvo Thinks Luxury Carmakers Need To Speed Up EV Rollout

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Jim Rowan, chief at Volvo Cars, feels that luxury brands aren't going electric fast enough and he blames continued commitment to developing ICE vehicles.

Defined priorities

Rowan feels that continuing to invest in both technologies concurrently will result in missed opportunities in the market.

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On a pedestal

It is quite easy for Volvo to speak down to its competitors considering just how aggressive its EV adoption plan is. It has committed to being fully electric by 2030.

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A word of warning

"The big problem with industry transitions is if you don't invest ahead of the curve, then you miss that inflection point, and you're not ready for when the market changes," he says.

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Benefits of foresight

Volvo has positioned itself well to share technologies with other Geely-owned automakers like Polestar. It has already unveiled the EX90 and plans to release numerous variations.

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Goals in sight

To achieve price parity on EVs by 2025, Volvo is looking to partner with mines to acquire lithium, since battery backlogs are the main thing holding EV production back.

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