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Volvo Cars has shared its full year report for 2022, showcasing record revenue numbers for the automaker’s entire history as it moves closer to becoming a fully-electric brand. After a strong share of EV sales in Q4, Volvo’s total percentage for the year more than doubled compared to 2021, but the automaker warns that although it successfully navigated a turbulent 2022, 2023 could prove to be just as challenging.

Volvo Cars Corp. is a global automaker headquartered in Torslanda, Sweden, and owned by Chinese conglomerate Geely Holding Group. In recent years, Volvo has helped lead by example, taking some of the industries biggest strides in embracing electrification and carbon neutrality across its various marques and production processes on its way to becoming be a fully-electric brand by 2030.

2022 was a big year for the automaker. In addition to exploring new EV technologies like wireless charging, it has begun touting several models in its next all-electric wave. This past November, we got our first full look at the upcoming EX90, which Volvo is advertising as the safest vehicle it has ever built.

It will soon join Volvo’s other EVs on the sales sheet like the C40 and XC40, which both saw refreshes that included added range, improved charging speeds, and a new RWD powertrain option. We should also see what Volvo Cars is calling its smallest and cheapest EV model sometime this summer, alongside an electric minivan – although its unclear if that EV will make it to the US.

While Volvo’s arsenal of all electric options is sure to grow in 2023, its current EVs did much of the legwork in 2022 in helping the brand see its best sales to date. We will break down some of those numbers below as we look ahead to this coming fiscal year, one in which Volvo expresses could be a tough one.

Volvo EV sales
The upcoming Volvo EX90 / Credit: Volvo Cars

Volvo Cars EV sales accounted for 18% of 2022 total

According to Volvo’s full year sales report for 2022, it has much to celebrate, and EVs were a huge part of its success. Revenue was $32 billion for the year, up 17% compared to 2021 and the highest ever recorded in the automaker’s near 100 year history.

Its operating income (EBIT) was around $2.2 billion (+10%). Excluding joint ventures and associates, however, Volvo’s EBIT was $1.7 billion, down nearly 16% compared to a year ago.

Volvo Cars points out that the true highlight of a trying year was its EV sales. Its numbers for fully-electric models were 11% of its total, more than doubling sales compared to 4% in 2021. A huge factor in this equation was Volvo’s Q4 EV sales, which reached their highest point ever at 18% compared to a mere 6% at the same point in 2021.

If you include Volvo’s entire Recharge lineup of BEVs and plug-in hybrids, it accounted for 33% of total sales and 41% in Q4 alone. The automaker has found a huge appetite for its EVs in Brazil, Uruguay, Thailand, and Indonesia where Recharge sales were 100% last quarter. Norway was 98%.

Those Recharge sales numbers helped Volvo reduce its overall CO2 emissions per vehicle by 15% as it looks to reach a 40% reduction per vehicle by 2025. Volvo Cars president and CEO Jim Rowan spoke:

We managed through the heavy turbulence of the year and made significant progress on our strategic ambitions in 2022, as we accelerated towards our aim to become a fully electric car company by the end of the decade and climate neutral by 2040.

Volvo admits it was plagued by supply chain constraints in 2022, particularly in the first half of the year. By the second half, the automaker explains it was able to bounce back and bolstered production by 15%. 2023 looks like it could be just as challenging for the automaker, but it remains optimistic:

While 2023 looks to be another challenging year, the company is hopeful that the COVID-related supply shortages from China are behind it and that it continues to see steady improvement in the supply of semiconductors. In addition, Volvo Cars is optimistic that the price of lithium will start to decline towards the end of the year, in line with many of the independent reports recently published. Despite the global turbulence, uncertainty and the recent price increases, Volvo Cars continues to see healthy demand for its cars. As ever, the company continues to closely monitor the external environment and adapt accordingly.

Looking ahead to 2023, Volvo Cars expects double digit sales growth while increasing the production volumes of its EVs. Just as long as there are no “unexpected supply chain disruptions.” Rowan once again spoke:

We have demonstrated in 2022 that we have turned up our execution engine. This will continue to deliver in 2023.

“Executive motor,” Jim. The word you’re looking for is “motor.”

On to 2023.

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Chevy Spark returns for 2026 as affordable electric crossover with 220 mile range

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Chevy Spark returns for 2026 as affordable electric crossover with 220 mile range

Chevy is resurrecting both the Spark and EUV nameplates with the all-new, affordable Chevy Spark EUV. GM hopes its new, 249-mile range EV will be a “game changer” that helps accelerate the company’s EV transition in export markets.

There’s an old saying that goes, “If you can’t beat ’em, join ’em.” And to that end it seems that GM’s Chevy brand has figured out a way to put China’s electric technology lead to work in their favor, rebadging the Baojun Yep Plus SUV built by the SAIC-GM-Wuling joint venture.

Meet the all-new 2026 Chevy Spark EUV – a compact, Bronco-lookin’ four-door crossover that’s ready to take South America, Africa, and the Middle East by storm.

Big style, tiny package

2026 Chevy Spark EUV; via GM.

Like its Baojun-badged siblings, the new MY2026 Chevrolet Spark EUV is powered by a single 75 kW (101 hp), 180 Nm (130 lb-ft) motor driving the front wheels. Power comes from the Baojun’s 42 kWh LFP battery that, with regenerative braking, is good for up to 360 km (220 miles) on the NEDC driving cycle.

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The new Spark is also equipped with a 10.1″ infotainment screen and 8.8″ digital instrument cluster. Interestingly, the Spark EUV ships with support for both Apple CarPlay and Android Auto standard – two technologies that GM claim lead to “unsafe” driver in North America.

Built to turn heads and spark excitement, the 2026 Chevrolet Spark EUV debuts in the ACTIV trim, boasting a bold, boxy exterior, a sleek two-tone roof, and sporty 16” wheels. Compact yet spacious, it’s the perfect everyday runner, offering seamless balance of practicality, driving dynamics and personality.

And for those who love to stand out, the Spark EUV offers six vibrant color options, including Sea Blue with a Polar White roof, Track Yellow, Tiger Blue, Gentle Gray with a Star Twinkle Black roof, and Milky Tea. But personalization doesn’t stop there – drivers can further customize their Spark EUV with exclusive accessories like Ground Effects for the front and rear, Side Moldings, Assist Steps, and Side and Rear Storage Boxes.

Whether you’re an adventurer, gaming enthusiast, music lover, sports fan or someone who enjoys pop culture, a range of unique accessories and themes ensures your Spark EUV stands out and feels uniquely yours.

CHEVROLET ARABIA

“The Chevrolet Spark EUV is the coolest and most attainable vehicle in its segment – and is positioned to drive EV adoption in the Middle East,” explains Jack Uppal, General Motors Africa and Middle East President and Managing Director. “Not only is it fun to drive, but the Chevrolet Spark EUV also offers customers the chance to personalize their vehicle with a variety of customization options, making it uniquely their own.”

In addition to basically re-using R&D and tooling budgets from the Baojun brand, the 2026 Chevy Spark EUV keeps its price low with relatively low EV tech. The charging, for example, tops out at “just” 50 kW – a far cry from the 300-plus kW from Tesla, let alone the 480 kW from some of the cutting-edge Chinese brands.

The 2026 Chevrolet Spark EUV will be available in UAE, KSA, Bahrain, Kuwait, Qatar, Lebanon, Iraq, Oman, and Egypt later this Summer. No official word on pricing.

Electrek’s Take

I know this is an overseas model with almost no chance of coming to the US – and that’s our loss. A practical, fun, affordable EV like this could do huge numbers if it was priced right. And with the Baojun Yep starting at less than $12,000 US in China, I can’t imagine a sub-20K MSRP would be entirely out of the question.

SOURCE | IMAGES: GM.

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BMW iX snatches the top spot in J.D. Power EV satisfaction survey

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BMW iX snatches the top spot in J.D. Power EV satisfaction survey

The 2025 US Electric Vehicle Experience (EVX) Ownership Study from J.D. Power tells us that more people are more satisfied with their EV experience than last year – and the EV owners who are the most satisfied with their rides can be found behind the wheel of the BMW iX.

Now in its fifth year, the J.D. Power U.S. Electric Vehicle Experience (EVX) Ownership Study focuses on the the first year of vehicle ownership. The overall EVX ownership index is a 1000-point score that measures EV owner satisfaction in both premium and mass market segments across 10 factors. Those being (in alphabetical order):

  • accuracy of stated battery range
  • availability of public charging stations
  • battery range
  • cost of ownership
  • driving enjoyment
  • ease of charging at home
  • interior and exterior styling
  • safety and technology features
  • service experience
  • vehicle quality and reliability

And, for the second year in a row, a BMW has taken the top two spots in J.D. Power’s survey, slotting just ahead of the Rivian R1T and R1S models (the leaders in 2023). In the mass-market BEV segment, BMW’s MINI sub-brand also performed well.

The reason BMW is consistently pulling ahead? It seems to come down to education. “First-time EV buyers are receiving minimal education or training,” explains Brent Gruber, executive director of the EV practice at J.D. Power. “Dealer and manufacturer representatives play the crucial role of front-line educators, but when it comes to EVs, the specific education needed to shorten the learning curve just isn’t happening often enough. The shortfall in buyer education is something we’re seeing with all brands.”

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For their part, BMW and MINI do a great job with consumer education – and the company’s Genius program (cunning cribbed from Apple’s Genius Bar playbook) is the best in the car business. With that in mind, it’s hard to imagine this going down any other way.

BMW Genius in-person session; via BMW.

After a decline in BEV owners’ overall satisfaction results in 2024, J.D. Power reports that owners of both premium and mass market battery electric EVs are expressing a change of sentiment this year. Part of that is better education, another part is more mainstream awareness of EV charging basics, but most of that is the overall growth and improvement of America’s publicly accessible DC fast charging network.

Among mass market BEV owners, satisfaction is up 86 points year over year (396) as infrastructure buildout continues and brands benefit from the opening of the Tesla Supercharger network. Satisfaction with public charger availability is highest among owners of premium BEVs (551).

J.D. POWER

These results should come as no surprise to Electrek readers and Quick Charge listeners. We covered a Paren study late last year that showed a nearly 50% increase in DC fast charging sessions YOY over Thanksgiving weekend. In that study, the company’s proprietary EV charger reliability index was up 3.4% compared to last year, reaching 85.5% and signaling an improving charging experience overall for EV drivers.

Another big EV trend covered in J.D. Power’s survey is the market’s permanence. EVs have staying power, in other words, with the vast, sweeping majority of first-time EV buyers indicating that they’re not going back to ICE.

verall, 94% of BEV owners are likely to consider purchasing another BEV for their next vehicle, a rate that is also matched by first-time buyers. Manufacturers should take note of the strong consumer commitment to EVs as the high rate of repurchase intent offers the ability to generate brand loyal customers if the experience is a positive one. In fact, during the past several years, the BEV repurchase intent percentage has fluctuated very little, ranging between 94-97%. This year’s study also finds that only 12% of BEV owners are likely to consider replacing their EV with an internal combustion engine (ICE)-powered vehicle during their next purchase.

J.D. POWER

“With five years of conducting this study and surveying thousands of EV owners, it’s apparent that once consumers enter the EV fold, they’re highly likely to remain committed to the technology,” Gruber adds.

J.D. Power reports that BEVs reached a market share of 9.1% in 2024, up from 8.4% in 2023. That’s in line with Cox Automotive’s numbers, which led that company to predict that 1 of every 4 new cars sold in the US (cleverly sidestepping the truck segment) would be battery-powered in 2025.

You can check out the results of the J.D. Power surveys, below, then let us know what you think of these results in the comments.

EVs with most satisfied owners

SOURCE | IMAGES: J.D. Power; BMW.

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Fastned goes online in Italy with 400 kW DCFC station

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Fastned goes online in Italy with 400 kW DCFC station

Dutch charge point operators Fastned have opened their first DC fast-charging station with up to 400 kW chargers in Italy, marking the eighth nation the company has built stations in.

Fastned’s new EV charging location was built into the existing Truck Park Brescia Est service plaxa on the busy A4 motorway roughly between Milan and Venice. The A4 is a major traffic artery in the northern part of Italy, but that’s not the only reason the site was chosen.

Fastned says that the majority of electric vehicles registered in the boot-shaped nation are located in the northernmost regions of the country of the country. More specifically, the new charging facility is located roughly halfway between Bergamo and Verona, while the A4 continues west to Lake Lugano and Lake Como or and east to Lago di Garda.

The facility offers four Alpitronic-built HYC400 Hyperchargers, DC fast charging stations with a massive, 400 kW output – quite a bit more than what even the newest Tesla EVs can make use of, but still significantly slower than either the megawatt charging some battery electric semi trucks or the latest 6C luxury cars from China can make use of.

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The new Fastned charge park was originally set to open in 2024, but wasn’t officially commissioned by the Italian motorway operator A4 Holding Group until this week.

Electrek’s Take

You might be asking yourself why I’m writing about a new charging station in Europe when I usually write about big trucks and tractors. The answer is simple: I read “Truck Park Brescia Est” and assumed this was a truck stop. By the time I figured it out I’d already written about three quarters of the article, and rather than throw it away I decided to use it as yet another opportunity to point out that Tesla is a step or three behind the latest charging tech from China.

I also re-posted an episode of Quick Charge on this same topic (above). Enjoy!

SOURCE | IMAGES: Fastned, via Electrive.

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