Dec. 2, 2019—As competitors catch up to the Swedish OEM, Volvo is now repositioning itself as a luxury brand for the electric-vehicle age, reported CNBC.
Volvo is owned by the Chinese automaker Geely. China is one of Volvo’s most important markets and a key market for electric vehicles. The Chinese government sees electrification as a way to reduce the country’s severe pollution problem and to help Chinese automakers gain a technological edge in the global automotive market.
Volvo is entering a market in which BMW, Mercedes and Audi all are well known and have been doing it for decades.
