Shulou(Shulou.com)11/24 Report--

CTOnews.com, November 12, Volvo announced on November 8 that in order to ensure electrification in 2030, Volvo will divest its 33% stake in Aurobay, a joint venture with Geely Holdings, to Geely Holdings, thus withdrawing completely from the development and manufacture of internal combustion engines. The move represents Volvo as the first carmaker in the world to withdraw completely from the development and manufacture of internal combustion engines.

According to Volvo's previous plan, by 2025, 50% of its global sales will be made up of pure electric models, 50% will be hybrid vehicles, and by 2030, the brand will switch to all electric vehicles.

However, the problem at this stage is that it is expensive. Whether it is the impact of the epidemic or the shortage of chips, major car companies have some ideas to raise prices and even have announced price increases, coupled with the current high cost of lithium batteries and soaring gasoline transaction prices have boosted the demand for electric vehicles, which more or less makes it difficult for new energy vehicles to reduce prices in the short term.

According to the data released by Shanghai Iron and Steel Federation, the quotations of some lithium materials rose again on November 11, with battery-grade lithium carbonate rising by 2500 yuan / ton, with an average price of 590000 yuan / ton, and industrial-grade lithium carbonate rose by 2500 yuan / ton, with an average price of 577500 yuan / ton, a record high.

In response, Volvo CEO Jim Rowan (Jim Rowan) believes that electric vehicles will reach the same price as the same class of petrol vehicles as early as 2025, when there will be enough technology to reduce battery costs. He believes that the new technology will promote mileage, with smaller batteries for longer battery life, while bringing lower costs.

Rowan also mentioned that car companies should not rely on government subsidies to find opportunities for success, they must find ways to produce electric cars that "people want and can afford."

Volvo has just officially launched its EX90 three-row, seven-seat medium-sized electric SUV, which will be used as a replacement for the current XC90, as previously reported by CTOnews.com.

"Volvo 7-seat SUV EX90 release: equipped with 111kWh battery, charging from 10% to 80% in half an hour"

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