Jun 08, 2018 Volvo Cars, EV, Polestar, Electric cars, future mobility,
On the operational side, Volvo expects to generate half of all sales annually from fully electric cars; one third of all cars sold to be autonomous driving cars; and half of all cars it offers to customers from its subscription service. The automaker expects these initiatives to transform its connection to its customer base, with the aim to build a total of over 5 million direct consumer relationships by the middle of the next decade, creating new sources of recurring revenue. This will also offer the company far greater potential to develop connected and other services for customers.
"Our customers' expectations are changing rapidly. This means that Volvo Cars is also changing rapidly. These initiatives will help transform Volvo from being purely a car company to being a direct consumer services provider," said Håkan Samuelsson, president and chief executive.
On the financial side, it says it is aiming to generate premium level profitability in line with other premium car makers, driven by increased sales and revenues across all three global sales regions, and a broader range of cars including sales to the new segment of autonomous ride-hailing companies.
Volvo Cars expects to benefit from lower procurement costs, shared development costs and economies of scale alongside Polestar, its premium performance electric car brand, and LYNK & CO, the new global car brand in which Volvo Cars owns a 30 percent stake. "This paves the way for Volvo Cars to continue growing fast into the middle of the next decade," said Mr Samuelsson.
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