Volvo is gearing up to introduce its highly anticipated all-electric successor to the popular XC60 SUV, marking a pivotal moment in the Swedish automaker’s electric vehicle (EV) roadmap. Set to debut in 2024, this new model represents a crucial step in Volvo’s ambitious plan to transition its entire vehicle lineup to electric power by 2030.
The decision to develop an all-electric XC60 successor comes as part of Volvo’s broader EV strategy, which aims to capitalize on the growing demand for electric vehicles worldwide. With the XC60 consistently ranking as Volvo’s best-selling model for the past four years, the transition to an electric variant is expected to further boost the brand’s market presence in the EV segment.
Positioned between the smaller XC40 Recharge and the forthcoming electric replacement for the XC90 SUV, the new XC60 successor will fill a crucial gap in Volvo’s electric vehicle portfolio. By offering a diverse range of electric SUVs, Volvo aims to cater to the evolving preferences of environmentally conscious consumers while maintaining its reputation for safety, performance, and luxury.
Volvo’s commitment to electrification is underscored by its ambitious sales targets. While electric vehicles accounted for only 6.5% of Volvo’s global sales last year, the company aims to increase this figure to 50% by 2025. Moreover, Volvo plans to phase out all combustion engines by 2030, aligning with its long-term vision of sustainability and environmental stewardship.
To achieve its electrification goals, Volvo is investing heavily in battery technology and production infrastructure. The company has announced plans to purchase batteries for the new XC60 successor from Northvolt, a leading European battery manufacturer. Beginning in 2024, Volvo will procure batteries at a rate of 15GWh per year, sourced from Northvolt’s existing facility.
Notably, Volvo intends to retain the current gas-powered XC60 alongside the new electric variant for the foreseeable future. This dual strategy reflects Volvo’s commitment to providing consumers with a choice between traditional combustion engines and cutting-edge electric powertrains.
The new XC60 successor is expected to leverage Volvo’s scalable product architecture (SPA2), which supports both pure-electric and hybrid drivetrains. This flexible platform enables Volvo to seamlessly integrate electric powertrains into its vehicle lineup while maintaining design continuity across different models.
In addition to the XC60 successor, Volvo has announced plans to launch several other electric models in the coming years, including the electric replacement for the XC90 SUV. These efforts are part of Volvo’s broader strategy to position itself as a leader in the electric vehicle market in the USA and compete effectively with established players like Tesla.
Check out more EV news from the USA.
