Volvo marks 17 straight months of growth as EV sales lead the way in January
Volvo Cars is starting 2024 with its 17th straight month of growth. Volvo’s all-electric model lead the growth, with global EV sales up 17% in January.
Volvo EV sales lead January growth
Volvo sold a total of 53,402 vehicles last month, up 10%, marking its 17th straight month of growth. Although Volvo’s Recharge model sales (EV and PHEV) fell 3% to 19,171, fully electric vehicles continued to see higher demand.
The growth was propelled by its EV sales, which were up 17%, with 9,226 electric Volvo models handed over last month.
Volvo sold 7,471 electric cars in Europe, up 40%, while EV sales in China (-50%) and the US (-66%) slipped in January.
PHEV sales fell 15% YOY in Europe to 7,471, but Volvo saw a 1% increase in the US to 1,615. Altogether, Volvo’s Recharge models accounted for 36% of all cars sold globally in January, while EVs had 17% of the share.
Volvo expects sales of its all-electric vehicles to carry the momentum in 2024. With its smallest and cheapest EV, the EX30 (see our review), starting at $34,950 in the US and €36,590 in Europe, rolling out, Volvo expects “tremendous growth” this year.
It’s also launching its first electric three-row SUV, the EX90. It will compete with the Rivian R1S, Kia EV9, and Mercedes EQS, starting at $76,695 in the US.
In China, Volvo’s second-largest market, it’s launching its first electric minivan, the EM90. Volvo’s EM90 features 450 miles CLTC range and a “Scandinavian living room.”
Volvo is committed to an all-electric lineup by 2030. By 2025, Volvo aims for a 50% EV sales share, or around 600,000 units sold. Volvo CEO Jim Rowan believes the automaker is “on course” to hit its targets.
Electrek’s Take
As one of the first legacy automakers to commit to going all-electric, Volvo continues to see the results.
Volvo calls the EX30 a “cornerstone” to its EV plans, expecting it to become one of its “best sellers in the coming years.”
After a record sales year in 2023, with 113,419 EVs sold, Volvo expects to keep the momentum rolling in 2024 with attractive EVs in key segments.
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Climate XChange’s 9th Annual EV Raffle is your chance to win the electric car of your dreams – from Rivian to Tesla to Porsche and more!
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China just connected its largest single-capacity solar farm built on a former coal mining area, which is in the Gobi Desert, to the grid.
The Mengxi Blue Ocean Photovoltaic Power Station, located in Otog Front Banner, Ordos, Inner Mongolia, came online on November 5. With a massive installed capacity of 3 gigawatts (GW) and over 5.9 million solar panels, the plant will generate around 5.7 billion kilowatt-hours of electricity annually – enough to power 2 million households.
This huge project will save about 1.71 million tons of standard coal each year and cut carbon dioxide emissions by roughly 4.7 million tons, which is equivalent to planting 62,700 hectares (around 155,000 acres) of trees.
Built on coal mining subsidence land, Mengxi Blue Ocean is part of China’s national West-East Electricity Transfer Project, which brings investment and development to western China west while supplying the growing need for electricity in the eastern provinces.
The solar farm includes the country’s first large-scale outdoor solar testing base in the Gobi Desert climate, demonstrating the potential for large solar installations in challenging environments.
The power station makes use of new rare earth alloy grounding materials, cutting costs by 40%. It also replaces traditional concrete foundations with steel to minimize impact on the local grassland ecosystem.
Chuang Xihong, deputy director of the Engineering Construction Department of Guodian Power Group, CHN Energy’s parent company, explained that Mengxi Blue Ocean is an agrivoltaic project as well [via PV Tech]:
Fine forage and sand-fixing plants are planted under the PV modules, providing grazing for Australian White Sheep and chickens. A composite ecological development model will be established where PV power generation and breeding will go hand in hand.
Read more: China powers up the world’s largest open-sea offshore solar farm
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