Volvo Plans to Take on Tesla

Volvo plans to launch its first all-electric vehicle by 2019. The Swedish automaker, which is now owned by Chinese company Geely, wants to compete with Tesla's Model 3 in terms of price.

When electric vehicles were first introduced, people weren’t quick to buy into the idea due to fears of limited mileage on a single charge. EVs were also generally more expensive compared to gas-powered cars. But all that is changing.

EVs can now compete with other cars in terms of price, and a single charge can support a much greater range. Traditional car manufacturers are quick to adapt these new technologies to develop their own EVs, and among them is Volvo. The Swedish company, now owned by Chinese manufacturer Geely, has just revealed their first all-electric car.

It’s not clear yet whether Volvo’s new concept will be a sedan or an SUV, but reports do indicate that it will be able to cover roughly 402 kilometers (250 miles) on one full charge. The vehicle is expected to be priced between $35,000 and $40,000, putting it in the same range as Tesla’s Model 3. No word yet if this concept EV will also be equipped with Volvo’s autonomous driving system.

In any case, the vehicle will be made at the company’s factory in Luqiao, China, and is set to go into production in 2019. The Swedish car manufacturer is also planning to build a larger EV for 2019, making that a big year for Volvo EVs.

Volvo has said they expect to sell one million EVs by 2025, and this new all-electric vehicle will likely put a big dent in that goal. As more EVs like it hit the roads, we should be able to put a dent in the carbon emissions currently wreaking havoc on our planet as well.