The United Nations has recognized Volvo Cars’ Global Electrification Strategy in its latest Global Compact report, the world’s largest corporate sustainability initiative.
The initiative focuses on encouraging businesses around the world to adopt socially responsible and sustainable policies. This year’s annual high-level meeting in New York recognized 10 chief executives that had made significant progress toward meeting the UN’s Sustainable Development Goals (SDGs), one of which was Håkan Samuelsson, president and chief executive of Volvo Cars.
In July 2017, Mr. Samuelsson and Volvo Cars announced their Global Electrification Strategy: starting in 2019, every new model launched will be equipped with an electric motor, and between 2019 and 2021 Volvo Cars will launch five new fully-electric models, two of which will be Polestar performance cars. All of these models will also be further supplemented by a range of mild-hybrid and plug-in hybrid options.
The strategy will mark the end of Volvo vehicles powered solely by internal combustion engines and make Volvo Cars’ electrified lineup one of the richest and most diverse of any automaker.
“We’re doing this because we think this is the right future for Volvo Cars, and that it will make us stronger. It’s sound business,” said Mr. Samuelsson.
The announcement made Volvo Cars the first established car company to fully embrace electrification and to make it the core of its future business. It also led to Volvo Cars being recognized as a member of LEAD, a group of the most committed and ambitious companies within the Global Compact. Of the 9,500 Global Compact members, only 44 are LEAD companies, and only two are automakers.
The disruptive and positive influence of Volvo Cars’ electrification strategy has been notable: since the announcement, several other automakers have made similar announcements and publicly committed to an electrified automotive future.
“Volvo Cars is leading the way and we can see now that the automotive industry is waking up to its responsibilities. We are proud to be a LEAD member of the UN Global Compact and of being acknowledged for our industry-leading commitment to an electric future,” said Stuart Templar, Director Sustainability at Volvo Cars.
This article is presented by Kundert Volvo in Hasbrouck Heights and Englewood, NJ.