Premium car maker Volvo Cars, has
unveiled two new concept cars that move the Swedish brand in an audacious new
direction and mark the official launch of its global small car strategy.
The newly-revealed 40 series concepts
demonstrate for the first time how Volvo plans to expand into the large and
lucrative global market for premium small cars with a range of vehicles that
combine bold exterior and interior design with industry-leading connectivity,
electrification and autonomous drive technologies.
The new concept cars will be the first built
around Volvo’s new Compact Modular Architecture (CMA), which has been specially
created for smaller cars and which has liberated the company’s designers and
engineers to explore bold and daring new directions.“Each member of our product
family has its own distinct character, just like the members of a real family.
CMA has helped us to capture something special, something youthful in our new
concept cars. They have an energy, a disruptive and engaging urban character
that makes them stand out amongst the crowd. This is the flavour of small
Volvos to come,” said Thomas Ingenlath, Senior Vice President, Design, at Volvo
Volvo’s small car strategy is
an essential element in its ongoing global operational and financial
transformation. The Swedish company is currently implementing an ambitious
revitalisation plan that will reposition the brand to compete with its global
premium competitors within the next four years.
Volvo’s new global small car range will
include a pure battery electric vehicle as well as Twin Engine plug-in hybrid
powertrain variants, in line with the company’s commitment to the
electrification of its entire portfolio. Volvo plans to have sold a total of up
to 1 million electrified cars by 2025 globally.
“By taking a modular approach to both vehicle
architecture and powertrain development we have succeeded in leap-frogging many
of the players in the premium segment,” said Dr Peter Mertens, Senior Vice
President Research & Development. “Our new battery electric powertrain
variant opens yet another exciting chapter in the unfolding Volvo story.”
On top of their daring exterior design and
electrified powertrain options, the new cars will also offer a full range of
innovative connectivity services, plus the world’s most advanced standard
package of safety features and ground breaking Scandinavian interior design.
“The new 40 series cars have the potential to improve
our market penetration in an important growing segment,” said Håkan Samuelsson,
president and chief executive. “An electric powertrain program including both a
new compact Twin Engine plug-in hybrid as well as a pure electric car are
central to the CMA architecture, “ he added pointing out that the first new 40
series car is expected to go into production in 2017.
The announcement of Volvo’s new global small
car strategy comes on the back of a strong start to the year in terms of sales
The company announced revenues
for the first three months of the year rose 24 per cent year-on-year to
SEK41.7bn, generating an operating profit of SEK3.1bn and an operating profit
margin of 7.5 per cent. Global sales for the first quarter of 2016 increased 11.9
per cent to 120, 591 cars. Volvo has a medium term ambition to sell 800,000
cars a year, up from 503,000 in 2015.
Source: Volvo Cars
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