Volvo Cars has reached a key milestone in its electrification journey, delivering its one millionth plug-in hybrid (PHEV) in September.
PHEVs remain a central pillar of Volvo’s growth strategy as the company transitions toward becoming a fully electric carmaker. In the first half of 2025, plug-in hybrids accounted for 23% of Volvo Cars’ global sales. Sales have grown sharply in recent years, rising from nearly 46,000 units in 2019 to more than 177,000 units in 2024, driven largely by demand for the XC60 and XC90 PHEVs in Europe, the U.S., and China.
The XC60 continues to be Volvo’s star performer, topping the European PHEV market in 2024 and leading the global premium PHEV segment for three consecutive years. Both the XC60 and XC90 were refreshed in 2024, boosting their appeal in core markets.
Volvo also launched the XC70 SUV, its first long-range PHEV, with an electric-only driving range exceeding 200 km under the CLTC cycle. The company says its plug-in hybrids are already used like fully electric cars in many cases—internal data shows that Volvo PHEVs operate in electric mode for around 50% of driving time, particularly in urban areas.
“Volvo Cars is committed to a fully electric future, and we will get there in a pace that suits our customers,” said Erik Severinson, Chief Commercial Officer at Volvo Cars. “Our plug-in hybrid cars are a crucial bridge towards that future for those customers who are not yet ready to go fully electric.”
With a portfolio that currently includes five PHEV models alongside six fully electric vehicles, Volvo Cars says its dual offering provides a strategic advantage, allowing it to serve a wide spectrum of customer needs during the transition to a zero-emission future.
Founded in 1927, Volvo Cars today is one of the world’s most recognized automotive brands, with a stated ambition to become a fully electric carmaker and achieve net-zero greenhouse gas emissions by 2040.
