Volvo is mostly about safety, it invented the three-point seatbelt found in every car today and instead of keeping the IP, it opened it up to everyone. but some how till date, Volvo and EV have not blended well.
Volvo’s owner, China’s Geely, is keen on getting into the lucrative luxury/performance EV market, where margins are easier to attain than with mass production EVs.
Volvo had bought Polestar Performance and is betting on $155,000 Polestar 1 plug-in hybrid (PHEV) which has 600 HP and 100 miles of driving range. The company feels that with this offering they can make a mark in EV market.
Although this will not hit market until next year plans are afloat and according to Volvo, the S60 will offer 400 HP to 415 HP with both the gasoline engine and electric motors powering the vehicle.