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A bold step from Volvo. No gasoline engines in two years.

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A bold step from Volvo. No gasoline engines in two years.
July 05
08:00 2017

The other day, Hakan Samuelsson, the Swedish auto concern’s chief executive, made a public statement, which is a little bit revolutionary for the world motor cars market. Mr. Samuelsson proudly stated that since 2019 all cars which were produced by the carmaker would be equipped with hybrid or electric engines.
The Financial Times quotes the head of Volvo: “Volvo intends to sell more than one million electric vehicles by 2025. A good tradition of Volvo is to keep a promise.”
The Swedish auto concern has become a pioneer among automakers in the sphere of total abandonment of the habitual internal combustion engines.
Volvo has already taken significant steps to implement their ambitious plan. Seven years ago, in 2010, the Swedes bought the auto company Geely, which is a fairly large Chinese automaker. It is the only company in China that sells in the United States. Its specialization is development and implementation of electric motors. Thus, due to this Chinese purchase, the Swedish auto concern has gained an access to the two largest markets of electric vehicles: China and the United States.
At the moment, only one in a hundred bought in the world cars is equipped with an electric motor. Despite of this, the sphere is incredibly dynamic and, according to many experts, the near future promises a real revolution in this sphere.
Even the most pessimistic analysts do not exclude the possibility that in 10-15 years not less than 80% of the used cars will be equipped with electric motors.
This news has had a positive effect on the stock quotations of the Swedish automaker. The trend will continue in the near future.

The material was prepared with the participation of  Andrey Majorov,
a leading analyst of the brokerage company CT Trade

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