US EditionEVs Will 'Probably' Cost Less Than Gas Cars In Five Years, Volvo CEO Says
Volvo's CEO says electric vehicles are already profitable and expects battery cost reductions and new manufacturing methods to make EVs cheaper than combustion cars within five years.
- At a Stockholm briefing, Volvo CEO Håkan Samuelsson said `I think if you look five years ahead I would say an electric car will most probably be lower in cost than a combustion car,` linking this to near-term models like the 2027 EX60.
- Lower battery costs are driving the shift, with Håkan Samuelsson, Volvo CEO, highlighting falling battery costs and cell-to-body integration as key to reducing EV unit costs.
- Volvo's EX60 introduces manufacturing changes like cell-to-body integration, mega castings and in-house motors to cut EV unit costs, with Samuelsson saying these bring margin parity versus gas models.
- In contrast to rivals, Volvo says it is not subsidizing EV sales, with CEO Håkan Samuelsson saying the company is more profitable now as it has EVs, while Ford reportedly took a $19.5 billion loss.
- With volumes rising, the focus should be on cost cuts through design and production, Håkan Samuelsson, Volvo CEO, warned that `if you wait for that you probably will not be in the market anymore` regarding solid-state batteries.
14 Articles
14 Articles
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