Volvo Cars reached a significant electrification milestone in September, delivering its one millionth Plug-in Hybrid (PHEV) vehicle, underscoring the brand’s rapid transition towards an all-electric future.
Volvo Cars is resolutely continuing its journey to become a fully electric brand. As a crucial phase in this transition, its Plug-in Hybrid (PHEV) models have taken on a strategic role, becoming a vital cornerstone of Volvo Cars’ growth.
In the first half of 2025, PHEV models accounted for an impressive 23% of Volvo Cars’ global sales. The volume of PHEV sales has significantly surged, jumping from approximately 46,000 units in 2019 to over 177,000 units in 2024. This growth has been driven primarily by high demand for models like the XC60 Plug-in Hybrid and the XC90 Plug-in Hybrid.
Refreshed Volvo XC60 exterior
The XC60 Plug-in Hybrid was Europe’s best-selling chargeable hybrid model in 2024 and has maintained its global leadership in the premium PHEV segment for the past three years. Continuing this success into 2025, the XC60 model, along with the updated XC90, has gained increased importance in key markets such as Sweden, the US, and China.
Thanks to the intense demand for its Plug-in Hybrid models, Volvo Cars holds the position as the brand with the highest share of chargeable hybrid sales among established premium automakers. To further advance this success, Volvo Cars is continuously expanding its product line with new PHEV models. One such addition is the recently launched XC70 model globally. As Volvo Cars’ first long-range chargeable hybrid, the XC70 offers an all-electric range exceeding 200 kilometers under the CLTC test cycle.
Erik Severinson, CCO of Volvo Cars, stated: “Volvo Cars is committed to an all-electric future, and we will reach this goal at a pace that meets the expectations of our customers. Our plug-in hybrid models serve as an important bridge to this future for customers who are not yet ready for a fully electric driving experience.”
Internal company data indicates that Volvo Cars PHEV models are predominantly used like a fully electric model, particularly in urban environments. Analysis shows that Volvo PHEV users complete approximately half of their total driving time without engaging the internal combustion engine.
Erik Severinson added: “As we invest in and expand our presence in the rapidly growing all-electric premium segment, we will continue to update and renew our plug-in hybrid models.” He further elaborated: “This will allow more time for the development of charging infrastructure and ease the transition to a fully electric world.”
Volvo Cars has been a pioneering manufacturer in chargeable hybrid technology for over a decade. The company took its first step by introducing the diesel PHEV version of the V60 station wagon and for many years was the only automaker in the world to offer a PHEV option for every model in its lineup.
Today, Volvo Cars offers a product portfolio that includes six fully electric models globally, complemented by PHEV versions for five different models. This balanced product portfolio provides the brand with a strategic advantage, enabling it to offer a premium electric mobility experience to customers across different segments worldwide.
