Volvo Car AB is strategically entering the Chinese luxury market with its premium battery-powered minivan, The EM90.
Marketing it as a mobile Scandinavian “living room,” the van is priced at $112,211 in the Chinese market. It is set to be the flagship model in Volvo’s lineup, primarily focusing on the thriving multi-purpose vehicle segment.
“We are doing a premium MPV that you can use both for your business life but also for your private life,” said Bjorn Annwall, Volvo’s chief commercial officer, in an interview before the launch.
Despite challenges in the EV-industry, Volvo Car’s CEO, Jim Rowan, noted that the company’s premium positioning and advancements in battery technology have shielded it from some EV price pressures. Still, Volvo is experiencing pressure to deliver on the manufacturer’s timeline in effort to become an EV-only carmaker.
While software-related issues have caused delays, Volvo aims to commence deliveries of its fully electric SUV lineup starting next year.
The EM90 will be manufactured at Geely’s Hangzhou Bay plant, with production to begin in early 2024. Pre-orders for the EM90 are currently open for Chinese customers.
Source: Bloomberg
