Electric Vehicle Market Size To Be Valued At $1,212.1 Billion By 2027 Owing To Rising Number Of Government Initiatives Globally To Promote Manufacturing & Adoption Of EVs | Million Insights

FELTON, Calif., March 2, 2021 /PRNewswire/ — The demand for the global electric vehicle market is projected to value at $1,212.1 billion by 2027, according to a new report published by Million Insights, with a CAGR of 41.5 % from 2020 to 2027. The growth can be imputed…

FELTON, Calif., March 2, 2021 /PRNewswire/ — The demand for the global electric vehicle market is projected to value at $1,212.1 billion by 2027, according to a new report published by Million Insights, with a CAGR of 41.5 % from 2020 to 2027. The growth can be imputed to the number of government initiatives across the globe to promote the adoption and manufacturing of EVs. For example, the Electric Vehicles Initiative (EVI), which is a multi-government forum, focuses on promoting the purchase of electric vehicles globally. In the current scenario, there are around 13 countries as participants in the forum. The countries include China, Chile, U.K., Sweden, Germany, Canada, Norway, Finland, Netherlands, Japan, New Zealand, France, and India. Numerous programs and campaigns are held under the forum like EV30@30 in 2017, which plans for 11 countries to account for a minimum 30.0% sale of the new electric vehicles by 2030.

What are the Driving Factors for the Electric Vehicle Market?

Large-scale investment in this market is one of the major drivers for market growth. For example, General Motors, in January 2020, announced to invest USD 2.2 Billion in the Detroit Plant for manufacturing SUVs and electric trucks. The company aims to launch above 20 EVs by 2023. Moreover, the demand for electric cars increased to 5 million units in 2018 as compared to 2 million units in 2017. China is viewed as one of the most lucrative markets for electric cars along with U.S. and Europe. However, limitation in infrastructure is expected to remain the obstacle for electric vehicles market growth in the near future.

Please click here to get the sample pdf and find more details on «Electric Vehicles Market» Report 2027.

The rising awareness of air pollution is surging the demand for electric vehicles during the forecast period. EVs emit fewer carbon gases than traditional gasoline cars. EVs are estimated to emit a mean of 4,450 pounds of CO2 each year, which is approximately half the carbon emissions produced by conventional cars per year. EVs help in lowering air pollution thereby, improving air quality and public health. This has resulted in several agencies promoting the use of EVs. For example, the U.S. Pollution Control Agency, Great Plains Institute, and the Department of Transportation are engaged to promote the use of electric vehicles in Minnesota, U.S.

Key Questions Answered in The Report:

Which Product Segment to Register Fastest Growth Rate?

The Plug-in Hybrid Electric Vehicles (PHEV) is expected to register the fastest CAGR of above 45.0% based on revenue from 2020 to 2027 due to its benefits relating to two power sources, fuel and electricity.

Which Products Segment to Account Largest Market Share?

The Battery Electric Vehicles (BEV) segment is anticipated to account for the largest share exceeding 60.0% based on revenue in 2019. The growth is imputed to the various government incentives in countries like Sweden, Germany, India, and China to promote the adoption of EVs.

Which Region is Anticipated to Hold Leading Market Share?

Asia Pacific accounted for the leading market share of above 60.0% in 2019. Moreover, Latin America is expected to register the fastest CAGR exceeding 75.0% based on revenue from 2020 to 2027 owing to the rising awareness for environmental protection among the population of Brazil.

Who are the Key Players in the Market?

The key players include BYD Company Ltd.; Ford Motor Company; Daimler AG; General Motors Company; Mitsubishi Motors Corporation; Groupe Renault; Nissan Motor Company; Volkswagen Group; Toyota Motor Corporation; and Tesla, Inc. The companies are engaged in mergers & acquisitions and collaborations to strengthen their customer base and enhance their product portfolio.

Browse 120 page research report with TOC on «Global Electric Vehicle (EV) Market» at: https://www.millioninsights.com/industry-reports/electric-vehicles-ev-market

Million Insights has segmented the global electric vehicle market based on product and region:

  • Electric Vehicle Product Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2027)
    • Battery Electric Vehicles (BEV)
    • Plug-in Hybrid Electric Vehicles (PHEV)
  • Electric Vehicle Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2027)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • §Germany
      • France
      • Norway
      • Netherlands
      • Sweden
    • Asia Pacific
      • China
      • India
      • Japan
      • Korea
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

Explore the Latest Press Releases by Million Insights:

  • U.S. Automotive Aftermarket The U.S. automotive aftermarket size is projected to touch USD 86.2 billion by the year 2025. It is anticipated to grow at a CAGR of 1.8% through the forecast period of 2019-2025. The market is anticipated to grow because of rising adaption of automotive technologies like safety and exhaust technologies along with several other aspects that influence vehicular performance.
  • Household Cooking Appliances Market The global household cooking appliances market size is anticipated to value USD 124.8 billion until 2025. It is also expected to register a CAGR of 6.5% over the forecasted years, 2019 to 2025. This growth can be associated with the rising preference over homemade food prevailing among the millennial population coupled with the integration of technologies like IoT in kitchen appliances for enhancing the ease of cooking.
  • MEMS Microphones Market The global MEMS microphones market size is estimated to be worth USD 2,991.0 million by 2025. The industry is expected to witness substantial growth due to raising the extensive use of microphones in several end-use applications, especially consumer electronics.
  • Road Haulage Market The global road haulage market size is anticipated to generate revenue of USD 4,071.7 billion by 2025. It is also expected to register a 5.5% CAGR during the forecasted period, 2019 to 2025. The rising need for cargo transport and the emergence of e-commerce industry is projected to boost the market growth in the upcoming years.

About Million Insights:

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: +1-408-610-2300
Toll Free: 1-866-831-4085
Email: sales@millioninsights.com 
Web: https://www.millioninsights.com/ 
Follow Us: LinkedIn | Twitter

 

Electric Vehicle Market Size To Be Valued At $1,212.1 Billion By 2027 Owing To Rising Number Of Government Initiatives Globally To Promote Manufacturing & Adoption Of EVs | Million Insights

FELTON, Calif., March 2, 2021 /PRNewswire/ — The demand for the global electric vehicle market is projected to value at $1,212.1 billion by 2027, according to a new report published by Million Insights, with a CAGR of 41.5 % from 2020 to 2027. The growth can be imputed…

FELTON, Calif., March 2, 2021 /PRNewswire/ — The demand for the global electric vehicle market is projected to value at $1,212.1 billion by 2027, according to a new report published by Million Insights, with a CAGR of 41.5 % from 2020 to 2027. The growth can be imputed to the number of government initiatives across the globe to promote the adoption and manufacturing of EVs. For example, the Electric Vehicles Initiative (EVI), which is a multi-government forum, focuses on promoting the purchase of electric vehicles globally. In the current scenario, there are around 13 countries as participants in the forum. The countries include China, Chile, U.K., Sweden, Germany, Canada, Norway, Finland, Netherlands, Japan, New Zealand, France, and India. Numerous programs and campaigns are held under the forum like EV30@30 in 2017, which plans for 11 countries to account for a minimum 30.0% sale of the new electric vehicles by 2030.

What are the Driving Factors for the Electric Vehicle Market?

Large-scale investment in this market is one of the major drivers for market growth. For example, General Motors, in January 2020, announced to invest USD 2.2 Billion in the Detroit Plant for manufacturing SUVs and electric trucks. The company aims to launch above 20 EVs by 2023. Moreover, the demand for electric cars increased to 5 million units in 2018 as compared to 2 million units in 2017. China is viewed as one of the most lucrative markets for electric cars along with U.S. and Europe. However, limitation in infrastructure is expected to remain the obstacle for electric vehicles market growth in the near future.

Please click here to get the sample pdf and find more details on «Electric Vehicles Market» Report 2027.

The rising awareness of air pollution is surging the demand for electric vehicles during the forecast period. EVs emit fewer carbon gases than traditional gasoline cars. EVs are estimated to emit a mean of 4,450 pounds of CO2 each year, which is approximately half the carbon emissions produced by conventional cars per year. EVs help in lowering air pollution thereby, improving air quality and public health. This has resulted in several agencies promoting the use of EVs. For example, the U.S. Pollution Control Agency, Great Plains Institute, and the Department of Transportation are engaged to promote the use of electric vehicles in Minnesota, U.S.

Key Questions Answered in The Report:

Which Product Segment to Register Fastest Growth Rate?

The Plug-in Hybrid Electric Vehicles (PHEV) is expected to register the fastest CAGR of above 45.0% based on revenue from 2020 to 2027 due to its benefits relating to two power sources, fuel and electricity.

Which Products Segment to Account Largest Market Share?

The Battery Electric Vehicles (BEV) segment is anticipated to account for the largest share exceeding 60.0% based on revenue in 2019. The growth is imputed to the various government incentives in countries like Sweden, Germany, India, and China to promote the adoption of EVs.

Which Region is Anticipated to Hold Leading Market Share?

Asia Pacific accounted for the leading market share of above 60.0% in 2019. Moreover, Latin America is expected to register the fastest CAGR exceeding 75.0% based on revenue from 2020 to 2027 owing to the rising awareness for environmental protection among the population of Brazil.

Who are the Key Players in the Market?

The key players include BYD Company Ltd.; Ford Motor Company; Daimler AG; General Motors Company; Mitsubishi Motors Corporation; Groupe Renault; Nissan Motor Company; Volkswagen Group; Toyota Motor Corporation; and Tesla, Inc. The companies are engaged in mergers & acquisitions and collaborations to strengthen their customer base and enhance their product portfolio.

Browse 120 page research report with TOC on «Global Electric Vehicle (EV) Market» at: https://www.millioninsights.com/industry-reports/electric-vehicles-ev-market

Million Insights has segmented the global electric vehicle market based on product and region:

  • Electric Vehicle Product Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2027)
    • Battery Electric Vehicles (BEV)
    • Plug-in Hybrid Electric Vehicles (PHEV)
  • Electric Vehicle Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2027)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • §Germany
      • France
      • Norway
      • Netherlands
      • Sweden
    • Asia Pacific
      • China
      • India
      • Japan
      • Korea
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

Explore the Latest Press Releases by Million Insights:

  • U.S. Automotive Aftermarket The U.S. automotive aftermarket size is projected to touch USD 86.2 billion by the year 2025. It is anticipated to grow at a CAGR of 1.8% through the forecast period of 2019-2025. The market is anticipated to grow because of rising adaption of automotive technologies like safety and exhaust technologies along with several other aspects that influence vehicular performance.
  • Household Cooking Appliances Market The global household cooking appliances market size is anticipated to value USD 124.8 billion until 2025. It is also expected to register a CAGR of 6.5% over the forecasted years, 2019 to 2025. This growth can be associated with the rising preference over homemade food prevailing among the millennial population coupled with the integration of technologies like IoT in kitchen appliances for enhancing the ease of cooking.
  • MEMS Microphones Market The global MEMS microphones market size is estimated to be worth USD 2,991.0 million by 2025. The industry is expected to witness substantial growth due to raising the extensive use of microphones in several end-use applications, especially consumer electronics.
  • Road Haulage Market The global road haulage market size is anticipated to generate revenue of USD 4,071.7 billion by 2025. It is also expected to register a 5.5% CAGR during the forecasted period, 2019 to 2025. The rising need for cargo transport and the emergence of e-commerce industry is projected to boost the market growth in the upcoming years.

About Million Insights:

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: +1-408-610-2300
Toll Free: 1-866-831-4085
Email: sales@millioninsights.com 
Web: https://www.millioninsights.com/ 
Follow Us: LinkedIn | Twitter

 

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SOURCE Million Insights

Kamux’s CEO Juha Kalliokoski assigns Kamux’s shares in his possession to his children

HELSINKI, March 2, 2021 /PRNewswire/ — Kalliokoski is to transfer 280,000 Kamux Corporation’s shares to his children. The assignments are to take place during March 2021.The assignments are not related to Kamux’s operations but to Kalliokoski’s personal will to share his shareholdings with his children.

The regular stock exchange release regarding the assignment of the shares will be given as a notification regarding managers’ transactions once the assignments have been carried…

HELSINKI, March 2, 2021 /PRNewswire/ — Kalliokoski is to transfer 280,000 Kamux Corporation’s shares to his children. The assignments are to take place during March 2021.The assignments are not related to Kamux’s operations but to Kalliokoski’s personal will to share his shareholdings with his children.

The regular stock exchange release regarding the assignment of the shares will be given as a notification regarding managers’ transactions once the assignments have been carried out.

Kamux Corporation

More information:

Juha Kalliokoski, CEO

Contacts:

Communications Director, Satu Otala, tel. +358 400 629 337

ir@kamux.fi

Kamux Corporation is a retail chain specializing in the sale of used cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has total of 78 car showrooms in Finland, Sweden and Germany. Since its founding, the company has sold approximately 300,000 used cars, 60,657 of which were sold in 2020. Kamux’s revenue reached EUR 724.1 million in 2020. In 2020, Kamux’s average number of employees was 713 in terms of full-time equivalent employees. The shares of Kamux are listed on the Nasdaq Helsinki stock exchange.

www.kamux.com

 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/kamux/r/kamux-s-ceo-juha-kalliokoski-assigns-kamux-s-shares-in-his-possession-to-his-children,c3298308

 

XCMG Sends Off 400 Units of Flagship Products to Countries of the Belt and Road Initiative

XUZHOU, China, March 2, 2021 /PRNewswire/ — Leading construction machinery manufacturer XCMG (000425.SZ) has sailed off more than 400 units of construction machinery equipment on February 18 from China, which will be arriving in countries of the Belt and Road Initiative (BRI) including Southeast Asian countries and Russia shortly.

<img…

XUZHOU, China, March 2, 2021 /PRNewswire/ — Leading construction machinery manufacturer XCMG (000425.SZ) has sailed off more than 400 units of construction machinery equipment on February 18 from China, which will be arriving in countries of the Belt and Road Initiative (BRI) including Southeast Asian countries and Russia shortly.

XCMG Sends Off 400 Units of Flagship Products to Countries of the Belt and Road Initiative.

This batch export included products of various categories including excavators, loaders, graders and cranes, will be travelling along the Maritime Silk Road to bring aid to fight the COVID-19 pandemic and help the economic recovery in those countries.

XCMG has achieved continuous success in the markets of BRI’s participating countries since 2013, providing world-class products and technical support to clients worldwide.

«In recent years, XCMG actively supports our overseas allies in speeding up their infrastructure construction. We’ve customized various solutions to suit the different working conditions of each region, while ceaselessly improving our local after-sales services by setting up professional service teams to guarantee the equipment’s smooth and reliable operation,» said Liu Jiansen, VP of XCMG and GM of XCMG Import and Export Ltd.

In the meantime, XCMG delivered 48 units of customized lorry-mounted cranes to Russia in February, which have stood out in the global market for leading quality and reliable service. In 2020, XCMG saw a 68 percent growth in the sales of lorry-mounted cranes.

The three models, SQS157ARU, SQ175ARU and SQS200ARU, are known for their high cold resistance, super-long arm lengths and super lifting capabilities. The added automatic telescopic drill pile and hanging basket also achieves multipurpose functionality.

In order to adapt to the complex local construction conditions, the cranes all use low-temperature resistant electrical equipment and steel wire ropes. XCMG also solved the technical bottleneck of multi-cylinder sequential expansion and contraction, which ensures stable and powerful horizontal expansion and contraction. Meanwhile, XCMG’s self-developed load-bearing telescopic hoisting control technology effectively prevents crane damage caused by overload and excess distance.

«Committed to high-quality development, the core of XCMG’s three-step international strategy is to bring ‘Advanced and Endurable’ products and services to our clients,» Liu said.

About XCMG

XCMG is a multinational heavy machinery manufacturing company with a history of 78 years. It currently ranks fourth in the world’s construction machinery industry. The company exports to more than 187 countries and regions around the world.

For more information, please visit www.xcmg.com

Photo – https://mma.prnewswire.com/media/1447409/image.jpg

Volvo Cars to be fully electric by 2030

GOTHENBURG, Sweden, March 2, 2021 /PRNewswire/ — Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and plans to become a fully electric car company by 2030.

<img id="prnejpg4d68left" title="Volvo Cars to be fully electric by 2030" border="0" alt="Volvo Cars to be fully electric by 2030" align="middle" src="https://mma.prnewswire.com/media/1446762/16_9_clean_covered.jpg"…

GOTHENBURG, Sweden, March 2, 2021 /PRNewswire/ — Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and plans to become a fully electric car company by 2030.

Volvo Cars to be fully electric by 2030

By then, the company intends to only sell fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids.

The company’s transition towards becoming a fully electric car maker is part of its ambitious climate plan, which seeks to consistently reduce the life cycle carbon footprint per car through concrete action.

Its decision also builds on the expectation that legislation as well as a rapid expansion of accessible high quality charging infrastructure will accelerate consumer acceptance of fully electric cars.

Volvo Cars’ move towards full electrification comes together with an increased focus on online sales and a more complete, attractive and transparent consumer offer under the name Care by Volvo. All fully electric models will be available online only.

The 2030 ambition represents an acceleration of Volvo Cars’ electrification strategy, driven by strong demand for its electrified cars in recent years and a firm conviction that the market for combustion engine cars is a shrinking one.

«To remain successful, we need profitable growth. So instead of investing in a shrinking business, we choose to invest in the future – electric and online,» said Håkan Samuelsson, chief executive. «We are fully focused on becoming a leader in the fast-growing premium electric segment.»

Volvo Cars launched its first fully electric car, the XC40 Recharge, in markets around the globe last year. Later today the company will reveal its second fully electric car, a new model in the 40 Series.

In coming years Volvo Cars will roll out several additional electric models, with more to follow. Already by 2025, it aims for 50 per cent of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.

«There is no long-term future for cars with an internal combustion engine,» said Henrik Green, chief technology officer. «We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030. It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change.»

Volvo Car Group in 2020
For the 2020 financial year, Volvo Car Group recorded an operating profit of 8.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 262.8 BSEK (274.1 BSEK). For the full year of 2020, global sales reached 661,713 cars (705,452), a decline of 6.2 per cent compared to 2019.

About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.

As of December 2020, Volvo Cars employed approximately 40,000 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).

Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

For more info, please contact:
Volvo Cars Media Relations
Phone: +46 031-596525
media@volvocars.com

Volvo Cars to be fully electric by 2030

 

Volvo Cars to be fully electric by 2030

 

Volvo Cars to be fully electric by 2030

 

Volvo Logo

Photo – https://mma.prnewswire.com/media/1446762/16_9_clean_covered.jpg

Photo – https://mma.prnewswire.com/media/1446763/271699_Volvo_XC40_Recharge_P8_AWD_in_Glacier_Silver.jpg

Photo – https://mma.prnewswire.com/media/1447058/271708_Volvo_XC40_Recharge_P8_AWD_in_Sage_Green.jpg

Photo – https://mma.prnewswire.com/media/1447059/264258_Volvo_Cars_XC40_Recharge___details.jpg

Logo – https://mma.prnewswire.com/media/1312760/Volvo_Logo.jpg

All pure electric Volvo models to be available online only

GOTHENBURG, Sweden, March 2, 2021 /PRNewswire/ — Volvo Cars is fundamentally changing how and where to meet its customers, and will transform the current wholesale model by moving online and with strong customer relationships.

<img id="prnejpg0955left" title="All pure electric Volvo models to be available online only" border="0" alt="All pure electric Volvo models to be available online only" align="middle"…

GOTHENBURG, Sweden, March 2, 2021 /PRNewswire/ — Volvo Cars is fundamentally changing how and where to meet its customers, and will transform the current wholesale model by moving online and with strong customer relationships.

All pure electric Volvo models to be available online only

It aims to be a fully electric car company globally by 2030 and will launch a completely new family of electric cars in coming years – all of which will be available online only.

As part of its new commercial strategy, Volvo Cars will invest heavily in its online sales channels, radically reduce complexity in its product offer, and with transparent and set pricing models.

Combined with online sales, Volvo Cars will focus on a complete convenient customer offering, all under the Care by Volvo name.

«The future of Volvo Cars is defined by three pillars: electric, online and growth,» says Lex Kerssemakers, head of global commercial operations. «We want to offer our customers peace of mind and a care-free way of having a Volvo, by taking away complexity while getting and driving the car. Simplification and convenience are key to everything we do.»

The strategy is focused on the fastest-growing segment in the global car industry: the premium electric market. Volvo Cars is committed to becoming a leader in this segment and will focus on developing electric cars only going forward.

While Volvo Cars is investing heavily in online sales platforms, it will build stronger customer relationships together with its retail partners. They remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling,preparing, delivering and servicing cars.

«Online and off-line need to be fully and seamlessly integrated,» added Lex Kerssemakers. «Wherever the customer is in their journey – online, in a showroom, in a Volvo Studio, or driving the car – the customer experience needs to be top-notch.»

Care by Volvo, until recently known as the name for Volvo Cars’ subscription service, will be expanded into a broader customer offer aimed at increasing overall convenience.

When buying an electric Volvo online, it will come with a convenient care package that includes items such as service, warranty, roadside assistance, as well as insurance where available and home charging options.

On its flagship online store, volvocars.com, the company will radically simplify the process for, and reduce the number of steps involved in, signing up for an electric Volvo.

Customers will be able to choose from attractive pre-configured electric Volvos that are ready for simple and convenient ordering and quick delivery.

Further convenience and simplification comes through transparent and set pricing models. This eliminates the need for negotiations, increases transparency and builds trust.

Volvo Car Group in 2020
For the 2020 financial year, Volvo Car Group recorded an operating profit of 8.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 262.8 BSEK (274.1 BSEK). For the full year of 2020, global sales reached 661,713 cars (705,452), a decline of 6.2 per cent compared to 2019.

About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.

As of December 2020, Volvo Cars employed approximately 40,000 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).

Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

For more info, please contact:
Volvo Cars Media Relations
Phone: +46 031-596525
media@volvocars.com

All pure electric Volvo models to be available online only

 

All pure electric Volvo models to be available online only

 

Volvo Logo

 

Photo – https://mma.prnewswire.com/media/1446756/pr_phone_2A_unsplash.jpg
Photo – https://mma.prnewswire.com/media/1446753/pr_phone_A_unsplash.jpg
Photo – https://mma.prnewswire.com/media/1446757/pr_phone_B_unsplash.jpg
Logo – https://mma.prnewswire.com/media/1312760/Volvo_Logo.jpg

 

Volvo Cars to be fully electric by 2030

GOTHENBURG, Sweden, March 2, 2021 /PRNewswire/ — Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and plans to become a fully electric car company by 2030.

GOTHENBURG, Sweden, March 2, 2021 /PRNewswire/ — Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and plans to become a fully electric car company by 2030.

By then, the company intends to only sell fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids.

The company’s transition towards becoming a fully electric car maker is part of its ambitious climate plan, which seeks to consistently reduce the life cycle carbon footprint per car through concrete action.

Its decision also builds on the expectation that legislation as well as a rapid expansion of accessible high quality charging infrastructure will accelerate consumer acceptance of fully electric cars.

Volvo Cars’ move towards full electrification comes together with an increased focus on online sales and a more complete, attractive and transparent consumer offer under the name Care by Volvo. All fully electric models will be available online only.

The 2030 ambition represents an acceleration of Volvo Cars’ electrification strategy, driven by strong demand for its electrified cars in recent years and a firm conviction that the market for combustion engine cars is a shrinking one.

«To remain successful, we need profitable growth. So instead of investing in a shrinking business, we choose to invest in the future – electric and online,» said Håkan Samuelsson, chief executive. «We are fully focused on becoming a leader in the fast-growing premium electric segment.»

Volvo Cars launched its first fully electric car, the XC40 Recharge, in markets around the globe last year. Later today the company will reveal its second fully electric car, a new model in the 40 Series.

In coming years Volvo Cars will roll out several additional electric models, with more to follow. Already by 2025, it aims for 50 per cent of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.

«There is no long-term future for cars with an internal combustion engine,» said Henrik Green, chief technology officer. «We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030. It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change.»

Volvo Car Group in 2020
For the 2020 financial year, Volvo Car Group recorded an operating profit of 8.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 262.8 BSEK (274.1 BSEK). For the full year of 2020, global sales reached 661,713 cars (705,452), a decline of 6.2 per cent compared to 2019.

About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.

As of December 2020, Volvo Cars employed approximately 40,000 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).

Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

For more info, please contact:
Volvo Cars Media Relations
Phone: +46 031-596525
media@volvocars.com

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SOURCE Volvo Cars

All pure electric Volvo models to be available online only

GOTHENBURG, Sweden , March 2, 2021 /PRNewswire/ — Volvo Cars is fundamentally changing how and where to meet its customers, and will transform the current wholesale model by moving online and with strong customer relationships.

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GOTHENBURG, Sweden , March 2, 2021 /PRNewswire/ — Volvo Cars is fundamentally changing how and where to meet its customers, and will transform the current wholesale model by moving online and with strong customer relationships.

It aims to be a fully electric car company globally by 2030 and will launch a completely new family of electric cars in coming years – all of which will be available online only.

As part of its new commercial strategy, Volvo Cars will invest heavily in its online sales channels, radically reduce complexity in its product offer, and with transparent and set pricing models.

Combined with online sales, Volvo Cars will focus on a complete convenient customer offering, all under the Care by Volvo name.

«The future of Volvo Cars is defined by three pillars: electric, online and growth,» says Lex Kerssemakers, head of global commercial operations. «We want to offer our customers peace of mind and a care-free way of having a Volvo, by taking away complexity while getting and driving the car. Simplification and convenience are key to everything we do.»

The strategy is focused on the fastest-growing segment in the global car industry: the premium electric market. Volvo Cars is committed to becoming a leader in this segment and will focus on developing electric cars only going forward.

While Volvo Cars is investing heavily in online sales platforms, it will build stronger customer relationships together with its retail partners. They remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling,preparing, delivering and servicing cars.

«Online and off-line need to be fully and seamlessly integrated,» added Lex Kerssemakers. «Wherever the customer is in their journey – online, in a showroom, in a Volvo Studio, or driving the car – the customer experience needs to be top-notch.»

Care by Volvo, until recently known as the name for Volvo Cars’ subscription service, will be expanded into a broader customer offer aimed at increasing overall convenience.

When buying an electric Volvo online, it will come with a convenient care package that includes items such as service, warranty, roadside assistance, as well as insurance where available and home charging options.

On its flagship online store, volvocars.com, the company will radically simplify the process for, and reduce the number of steps involved in, signing up for an electric Volvo.

Customers will be able to choose from attractive pre-configured electric Volvos that are ready for simple and convenient ordering and quick delivery.

Further convenience and simplification comes through transparent and set pricing models. This eliminates the need for negotiations, increases transparency and builds trust.

Volvo Car Group in 2020
For the 2020 financial year, Volvo Car Group recorded an operating profit of 8.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 262.8 BSEK (274.1 BSEK). For the full year of 2020, global sales reached 661,713 cars (705,452), a decline of 6.2 per cent compared to 2019.

About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.

As of December 2020, Volvo Cars employed approximately 40,000 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).

Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

For more info, please contact:
Volvo Cars Media Relations
Phone: +46 031-596525
media@volvocars.com

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SOURCE Volvo Cars

Hanon Systems to Launch New Manufacturing Site in Korea

SEOUL, March 1, 2021 /PRNewswire/ — Global automotive supplier Hanon Systems (KS: 018880) today announced it began construction on its fifth plant in Korea.

The new plant, located in Naengcheon-ri, Oedong-eup, Gyeongju-si, will be built on a site that offers approximately 33,000 square meters (approximately 335,000 square feet) of land. Construction of the Gyeongju facility is expected to be complete in the second quarter of 2021 with production expected to begin in the third…

SEOUL, March 1, 2021 /PRNewswire/ — Global automotive supplier Hanon Systems (KS: 018880) today announced it began construction on its fifth plant in Korea.

The new plant, located in Naengcheon-ri, Oedong-eup, Gyeongju-si, will be built on a site that offers approximately 33,000 square meters (approximately 335,000 square feet) of land. Construction of the Gyeongju facility is expected to be complete in the second quarter of 2021 with production expected to begin in the third quarter.

The facility will produce a range of solutions including heat pump modules and coolant valve assemblies to support electric vehicles for the Genesis brand and Ioniq 5 model of the Hyundai Motor Group. The company expects the Gyeongju facility will supply eco-friendly solutions on approximately 300,000 electric vehicles by 2024. 

«Hanon Systems has a proven track record supplying heat pump system components and is in serial production supporting various manufacturers of eco-friendly vehicles,» said Min Sung, president and chief executive officer of Hanon Systems. «We are pleased to launch this new facility, which will support the industry’s shift toward electrification with solutions that improve electric vehicle driving range, particularly in winter conditions.»

In 2020, solutions for eco-friendly vehicles accounted for more than 75 percent of the company’s new business wins.

The new facility in Gyeongju joins the four existing Korea manufacturing operations located in Daejeon, Pyeongtaek, Ulsan and Asan.

About Hanon Systems
Hanon Systems is a full-line supplier of automotive thermal and energy management solutions for electrified and conventional vehicles. Its offering includes a wide range of solutions in the areas of heating ventilation and air conditioning; powertrain cooling; compressor; fluid transport; and electronics and fluid pressure. The company currently operates 51 manufacturing sites and three technical innovation centers, and employs more than 21,000 people across 21 countries. To learn more, visit hanonsystems.com

Follow Hanon Systems:
LinkedIn: https://www.linkedin.com/company/hanonsystems 
YouTube: https://www.youtube.com/channel/UC6bSZ7NMg7LPhXDyTOMwebQ/feed

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SOURCE Hanon Systems

Steele Honda is offering a special lease offer and a bonus payment with the purchase of a 2021 Honda Civic

ST. JOHN’S, Newfoundland, March 1, 2021 /PRNewswire-PRWeb/ — Steele Honda, a dealership in St. John’s, is offering a special lease offer and a bonus payment with the purchase of select 2021 Honda Civic models. Drivers who are interested in this model can lease a 2021 Honda Civic model for as little as $67 on a weekly lease. Plus, they can receive a 2021 Civic Bonus of $750 with their purchase when they…

ST. JOHN’S, Newfoundland, March 1, 2021 /PRNewswire-PRWeb/ — Steele Honda, a dealership in St. John’s, is offering a special lease offer and a bonus payment with the purchase of select 2021 Honda Civic models. Drivers who are interested in this model can lease a 2021 Honda Civic model for as little as $67 on a weekly lease. Plus, they can receive a 2021 Civic Bonus of $750 with their purchase when they purchase during the 2021 Honda Dream Garage Event. Drivers who would like to finance a 2021 Honda Civic instead of leasing can also take advantage of a special offer. Right now, drivers who sign for a 2021 Honda Civic purchase can enjoy 90 days of no payments starting from the date of purchase.

The 2021 Honda Civic models that are available with this special offer are of the LX trim level and have a CVT (Continuously Variable Transmission). The LX is the base model of the 2021 Honda Civic and has a starting price of $25,185. Some of its best features include its automatic high-beam headlights, heated front seats, low emissions and phone connectivity.

Drivers who are interested in leasing or purchasing a 2021 Honda Civic LX, learning more about the dealership or viewing other special offers are encouraged to visit the dealership’s website, steelehonda.com. The Steele Honda website offers a comprehensive online inventory for new and used vehicles, financing information, contact information and much more. Drivers are encouraged to act fast for this temporary offer.

Media Contact

Dean Jacobs, Steele Honda, (709) 693-8732, djacobs@steelehonda.com

 

SOURCE Steele Honda