Volvo launching six EVs by 2026, including two sedans - report

Volvo will launch at least six new electric vehicles before 2026 as the company moves towards its goal of an entirely electric lineup by 2030.

Reuters has obtained the information from two sources with knowledge of Volvo’s future plans.

The electrification plans reportedly include the replacement of three SUVs and two sedans from Volvo’s existing lineup with EVs, as well as the introduction of an electric people mover aimed at the Asian market.

The S60 and S90 sedans and XC40 and XC60 crossovers will reportedly receive electric replacements.

The EX90, the first of Volvo’s upcoming electric vehicles, has already been announced and confirmed for Australia. The crossover SUV was announced last year and will be available in early 2024, acting as a replacement for the seven-seater XC90.

The EV people mover was teased earlier this year by Qin Peiji, president of Volvo Cars Greater China Sales Company, and is expected to be revealed in ‘semi-concept’ in the third quarter of this year and launched by the end of the year.

The people mover is said to be based on the Zeekr 009, another model from a Geely-owned brand that’s specifically aimed at the Chinese market.

Like many other Volvo vehicles, including the upcoming sedan EVs, the development of the EV people mover will reportedly take place in Volvo’s new Shanghai research and development hub.

The sources told Reuters the electric makeover of the Volvo product line also comes from the company’s desire to place “a greater focus on customer trends in Asia and a push to win sales there.”

It’s unclear what the future is for Volvo’s V60 and V90 wagons. This body style remains relatively popular in Europe, but dramatically less so in markets like China and the US.

Volvo Car Australia managing director Stephen Connor said the local division will be ready to make the jump to a full EV line-up by 2026, four years ahead of the brand’s global goal.

Chinese auto giant Geely owns an 82 per cent stake in Volvo, and the electric revamp will be the largest reconfiguration of the Volvo line-up since the acquisition in 2010.

Volvo Australia is moving steadily towards its EV future, and in December it sold more pure EVs than ICE vehicles.

It currently offers just two electric vehicles: the XC40 Recharge and C40 Recharge.