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Volvo limited resources and the China influence

Posted by AbeCollins (A) on July 8, 2017 at 08:43:10

In Reply to: In the auto news today -- Volvo. posted by free.ranger on July 5, 2017 at 06:10:19:

Limited resources and the China influence.......

The Atlantic:
"Sweden-based automaker is lone among the world's major automakers to move so aggressively into electric or hybrid cars. Volvo sold around half a million cars last year, significantly less than the world's largest car companies such as Toyota, Volkswagen, and GM, but far greater than the 76,000 sold by Tesla, the all-electric carmaker."

The New York Times adds:
"But by focusing on electrification, Volvo can concentrate its limited research and development resources on new technologies rather than continuing to invest in fuel-powered motors that may become obsolete. ...

Volvo will also be able to draw on technology developed by its parent company. Geely sells electric cars in China, one of the fastest growing markets for battery-powered vehicles."

According to CNNMoney:
"The shift is likely to have been influenced by Chinese auto company Geely, which bought Volvo in 2010.

China has been swift to adopt electric vehicles. The world's second-largest economy, which is plagued by air pollution, wants 5 million electric cars on its roads by 2020.

More than half of the world's electric cars are already sold in China, according to a report from the Center for Automotive Research at Germany's University of Duisberg-Essen. In 2016, Chinese drivers bought 507,000 electric and plug-in hybrid vehicles out of 873,000 worldwide.

Volvo's announcement comes just weeks after U.S. electric car firm Tesla said it was working with Shanghai officials to establish a manufacturing facility in the region to better serve China."

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