[Asia Economy Reporter Kim Ji-hee] The electrification strategies of imported car manufacturers are accelerating. While various companies have already announced future strategies centered on electrified vehicles on a global scale, recently Volvo declared that it will introduce eco-friendly powertrains instead of internal combustion engines across all models sold domestically.
According to the industry on the 26th, Volvo Car Korea will launch all models with mild hybrid and plug-in hybrid powertrains instead of pure diesel or gasoline engines, in line with the global headquarters' carbon emission reduction plan. This applies to all models sold domestically from the 2021 model year onward. In particular, to proactively address air quality issues in the Korean market, diesel engine sales will be completely excluded, making Korea the first country globally to do so.
As a founding member of the UN Global Compact, Volvo has set a goal to achieve climate neutrality by 2040. Under its short-term goal, 'Vision 2025,' the company plans to reduce carbon dioxide emissions by 40% by 2025. To achieve this, the plan includes ▲achieving 50% of total sales as pure electric vehicles to reduce tailpipe carbon emissions by 50% ▲cutting carbon emissions related to the global supply chain by 25% ▲using 25% recycled plastics in new cars ▲reducing carbon emissions across company operations by 25%.
Other major imported car manufacturers are also announcing global strategies centered on electrification one after another. Since companies are presenting future vehicle strategies spanning 5 to 10 years, it is expected that lineup restructuring according to the global roadmap will accelerate domestically, starting with Volvo.
Last year, Audi revealed its E-roadmap, aiming to increase the proportion of electrified vehicles to 40% of total sales by 2025. To this end, it will introduce more than 30 electrified vehicles, including 20 pure electric cars. Audi plans to invest over 12 billion euros (approximately 16.5 trillion KRW) in electric mobility by 2024 and reduce carbon dioxide emissions of all models by more than 30% compared to 2015 by 2025.
Volkswagen unveiled the pure electric SUV 'ID.4' through an online live broadcast at the 2020 Geneva International Motor Show, announcing a goal to produce a total of 1.5 million electric vehicles by 2025. To promote e-mobility, the group plans to invest about 33 billion euros by 2024, with one-third of that amount, 11 billion euros, allocated to the Volkswagen brand. Starting next year, the Zwickau plant will be transformed into the largest and most efficient electric vehicle production plant in Europe.
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