Volvo Cars and Polestar are committed to creating environmentally-friendly vehicles that will reduce fleet emissions of CO2. Adjusting to climate change, Volvo and Polestar will achieve their joint goal of reducing fleet emissions, and better yet go beyond their expectations set out by the European Commission.
Volvo cars are the first established car maker to commit to electrification and it is this commitment that amounted to their achievement.
Håkan Samuelsson, Chief Executive of Volvo Car Group announced:
“For Volvo Car Group, the future is electric and we are transforming our company through concrete action.” “I am pleased to see that we are exceeding our CO2 reduction targets. It proves our strategy is the right one for our business and for the planet.
Due to this overachievement on the CO2 emissions target, Volvo Car Corporation (Volvo cars and Polestar) have entered into a pooling contract with Ford. Volvo Car Corporation will offer their excess CO2 emissions to Ford and other car companies in line with the pooling system guidelines written by the European Commission. Thus, the revenue as a result of this agreement will be reinvested in new green technology projects.
The plug-in hybrid cars or Recharge cars have sold more than expected in Europe during the first nine months of 2020. The succession of such sales made Volvo cars the number-one Recharge premium brand in Europe.
Being the only car brand to offer a plug-in hybrid alternative for every model in its line-up, Volvo cars will introduce a range of fully electric models in the coming years. Later this year Volvo will release the XC40 Recharge Pure Electric.
There are very high hopes for Volvo Cars, as by 2025 Volvo hope that their global sales will contain 50% fully electric cars and the rest hybrids.
The successful deliveries of the fully electric Polestar 2 model that started this year has caused Polestar to quickly become one of the most eclectic and prominent car brands in Europe. This achievement of Polestar is advantageous as they continue to build their presence in the market.
Looking forward, in 2040 Volvo cars will aim to become a climate-neutral company.
Volvo Cars climate plan includes an electrification strategy. The company will control carbon emissions within the manufacturing network, supply chains and through recycling and reuse of materials. Moreover, Volvo cars will reduce its lifecycle carbon footprint per car by forty per cent between 2018 and 2025.
This, as well as a fifty per cent reduction in tailpipe emissions per car, will contribute to Volvo presenting their brand as safe, sustainable and environmentally aware.