Volvo had a record year in 2023, with EV sales pushing global volume to new highs. The Swedish automaker’s early commitment to EVs is paying off, with over 113,000 fully electric Volvo cars sold last year.
Volvo hits new sales record in 2023 as EV demand climbs
As one of the first legacy automakers to commit to an EV-only future by 2030, Volvo is already reaping the benefits.
With 113,419 EVs sold in 2023, Volvo hit a new global sales record. Overall, EV sales were up 70% compared to 2022 as demand continues building.
Volvo’s EVs accounted for 16% of its total vehicle sales in 2023. That’s up from 10.9% in 2022 and 3.7% in 2021. The company sold 66,749 EVs in 2022 and 25,727 in 2021.
2020
2021
2022
2023
Volvo EV sales (% change YOY)
4,659
25,727 (+452.2%)
66,749 (+159.5%)
113,419 (70%)
Volvo EV sales by year
Despite the growth last year, Volvo saw a slowdown in December. Volvo’s EV sales slipped 16% last month compared to December 2022. Growth slowed across all major markets. US electric vehicle sales slipped 39%, Europe 16%, and China EV sales were down 69%.
Volvo expects things to turn around quickly, with new models hitting the market. The EX30, starting at $35,000, will begin rolling out in the US in mid-2024. Volvo’s flagship EX90, its first three-row electric SUV, will go on sale early this year. The Volvo EX90 will start at $76,695 and will rival Rivian’s R1S, Kia EV9, and Mercedes EQS.
Volvo EX30 (Source: Volvo)
Volvo is also launching its first electric minivan, the EM90, in China, with up to 450 mi CLTC range.
With new models in key segments, like the EX30 (see our review), Volvo expects to see “reasonably decent volumes” next year, according to CEO Jim Rowan.
Volvo EX90 (Source: Volvo)
Rowan said with a full year of EX30 sales, the brand should continue growing in 2024. When asked about the “reported slowdown” many media outlets claim, Rowan said, “We are not seeing any order cancellations or any slowdown in order intake.”
Volvo just received a €420 million ($460M) loan from the European Investment Bank this week to develop a new EV platform. The funds will support “even safer and more sustainable” EV tech, including faster charging and enhanced efficiency.
Volvo’s first electric minivan, the EM90 (source: Volvo)
By 2025, Volvo aims for 50%, or around 600K, sales to be fully electric as it moves toward an all-EV lineup by 2030.
Electrek’s Take
Volvo’s early transition to EVs is paying off. The automaker sold over 113K fully electric models last year, up from 66.7K in 2022 and 25.7K in 2021.
Despite a slowdown last month, Volvo’s EV sales will likely accelerate as new models like the EX30, EX90, and EM90 launch in its biggest markets. Volvo will be a brand to keep an eye on over the next year, with unique EVs launching in popular segments globally,
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The 2025 Blazer EV isn’t just fast. It’s the quickest SS vehicle that Chevy has ever built. With a staggering 615 horsepower and 650 lb-ft of instant torque, the electric SUV can outrun most sports cars. Plus, with over 300 miles of range, it’s practical enough for an everyday drive. The best part? It’s now available to order.
Chevy opens orders for the 2025 Blazer EV SS
After launching the 2025 Chevy Blazer EV last year, GM promised a full lineup, including FWD, RWD, AWD, and a performance SS model.
Orders opened for the SS trim this week, starting at $61,995. The electric Blazer is the fastest to wear Chevy’s Super Sport, or SS, markings. A dual motor (AWD) powertrain packs up to 615 hp and 650 lb-ft of torque for a 0 to 60 mph sprint in 3.4 seconds (with Wide Open Watts).
Not only is it fast, but the Blazer EV SS is fit for an everyday SUV. It has an EPA-estimated range of up to 303 miles, more than enough for an average day’s worth of driving.
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The exterior upgrades include 22″ machine-face aluminum wheels, a blacked-out roof, mirror caps, trim, and roof rails. It also gains a sporty-looking illuminated light bar up front.
Inside, the sporty electric SUV features a 17.7″ navigation screen with Google built-in and an 11″ driver display screen. You also get a premium 8-speaker Bose audio system, Head-Up Display (HUD), GM’s Super Cruise driver assist, and ambient lighting.
Chevy Blazer EV SS interior (Source: GM)
Last month, Chevy’s Blazer EV SS became the first electric vehicle to pace the Daytona 500. Although GM said it would go on sale “later this year,” orders are now open online.
The base 2025 Chevy Blazer EV LT FWD model starts at $45,995 with up to 312 miles range. Starting at $48,995, the AWD model has 300 hp and 355 lb-ft of torque with up to 283 miles range.
2025 Chevy Blazer EV trim
Starting MSRP (includes DFC)
Range (EPA-estimated)
Horsepower
Torque
FWD
$45,995
312 miles
220
243 lb-ft
AWD
$48,995
283 miles (previously 279 mi)
300 (previously 288)
355 lb-ft (previously 333 lb-ft)
RWD
$56,990
334 miles (previously 324 mi)
365 (previously 340)
325 lb-ft
SS
$61,995
303 miles
615 with Wide Open Watts (previously announced 557) Wide Open Watts mode can accelerate from 0 – 60 in 3.4 seconds
650 lb-ft with Wide Open Watts
2025 Chevy Blazer EV prices and range by trim (Source: Chevrolet)
All Blazer EV trims qualify for the $7,500 federal tax credit, bringing prices down to potentially as low as $38,495.
With the 2025 Blazer EV arriving, Chevy is offering some solid deals on 2024 models. GM is promoting 0% APR for 60 months, with leases starting as low as $369 per month.
At an all-hands meeting last night, Elon Musk stood before Tesla employees and told them to “hang on to their TSLA stocks” as Tesla board members and top executive are dumping their shares amid a 40% crash.
CEO Elon Musk didn’t announce anything new during the meeting. He mostly recapped Tesla’s latest milestones over the last year, thanked employees for their work, and reinstated several of his overly optimistic predictions about Tesla’s future regarding self-driving cars, robots, and stock valuation.
The CEO again claimed that he believed that Tesla would become the world’s most valuable company by a wide margin.
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Musk went as far as asking employees, and indirectly the public as this was publicly live-streamed, to “hang on to their stocks.”
This comes after Tesla’s stock dropped more than 40% so far this year and Tesla is expected to have its worst quarter of the last 3 years.
The suggestion that Tesla employees and the public should hold on to their shares is a bold statement given that Tesla board members and executives have been selling recently.
Here’s a summary of Tesla board members and executives selling their Tesla stocks over the last 3 months:
Insider
Position
Shares Sold
Total Value (approx.)
Robyn M. Denholm
Board Chair
224,780
~$76.9 million
Kimbal Musk
Director (Board Member)
75,000
~$27.6 million
James R. Murdoch
Director (Board Member)
54,776
~$13.2 million
Vaibhav Taneja
Chief Financial Officer
~13,500
~$4.5 million
Kathleen Wilson-Thompson
Director (Board Member)
100,000
~$41.2 million
Electrek’s Take
I wonder if Elon has given them the same speech about holding on to their shares and that Tesla would soon be the most valuable company in the world?
If they believed him, they would buy Tesla stocks, not sell them.
Not a single Tesla insider who requires SEC reporting to buy or sell Tesla stocks has purchased it in the last few years.
None.
To me, it looks like Elon is getting desperate here. He knows that Tesla is about to have a terrible quarter. April is likely going to be tough for Tesla’s stock with the delivery report in the first week and the earnings later in the month.
He wanted to boost the stock before those events happened in order to limit the damages.
It’s likely going to work for a bit. He exposed his new fans on the right to his now well-known speech about Tesla becoming the most valuable company in the world through robotaxis and humanoid robots. Some of those new fans might decide to buy on this recommendation.
However, they are likely to get burned within weeks. This has become the new normal with this administration pumping cryptos, DJT, etc.
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Segway has issued a significant recall affecting approximately 220,000 units of its popular Ninebot Max G30P and Max G30LP electric scooters. The recall addresses a safety issue involving the scooters’ folding mechanism, which can unexpectedly fail during use.
According to the U.S. Consumer Product Safety Commission (CPSC), this malfunction can lead to a sudden collapse of the handlebars or scooter stem, posing a substantial fall risk and potentially resulting in serious injuries to riders.
Segway has reported receiving 68 incidents of the folding mechanism failing, with 20 reported injuries so far. These injuries have ranged in severity from minor abrasions and bruises to more severe incidents involving lacerations and broken bones.
The scooters involved in the recall were widely sold across the United States at major brick-and-mortar retailers, including Best Buy, Costco, Walmart, Target, and Sam’s Club, as well as through online platforms like Amazon and Segway’s official website. Sales occurred over an extensive period, from January 2020 through as recently as February 2025, highlighting the popularity and broad consumer adoption of these affordable and compact electric scooters.
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The Segway Ninebot Max series has been particularly favored among urban commuters and college students due to its combination of performance, affordability, and portability. These scooters typically offer ranges exceeding 20 miles per charge, making them an attractive alternative to cars, public transportation, or even traditional bicycles for short to medium-distance commutes. The ability to fold and conveniently store or carry these scooters has further boosted their appeal, especially in dense urban environments.
However, this recall and others like it in the industry emphasize ongoing concerns within the broader micromobility industry regarding safety standards and manufacturing quality control. As electric scooters continue to grow rapidly in popularity, questions persist about the long-term reliability and durability of certain models, especially in lower-priced segments of the market. Segway has long remained a trusted brand, even after its purchase by Chinese giant Ninebot, but incidents like these can influence public perception, highlighting the importance of robust engineering and rigorous testing procedures.
In response to the recall, Segway advises consumers who own these models to cease using the scooters immediately until repairs can be completed. Owners should contact Segway directly to obtain a free maintenance kit, which includes the necessary tools and detailed instructions for inspecting and adjusting the scooter’s folding mechanism. Consumers can reach Segway’s dedicated customer service team at 1-800-914-6110 or via email at recall@segway.com. Additional resources and details about the recall process are available on Segway’s official recall webpage.
This recall also underscores the critical importance for riders to regularly inspect their vehicles and remain informed about product recalls and safety notices. As the electric scooter market continues to expand and mature, companies will likely face increased scrutiny and pressure to uphold safety standards.
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