Our new fully electric premium MPV, the Volvo EM90, is not just designed to be a comfortable living room on the move, and a car that provides you with room for life with your loved ones. It is also a car that broadens the appeal of Volvo Cars and meets even more customer needs.
The EM90 demonstrates our strong abilities to innovate and meet specific market demands. The multi-purpose vehicle (MPV) segment has gained considerable popularity in recent years, especially in many parts of Asia. This is one of the main reasons why the EM90 is coming first to China, the world’s largest car market.
Following the reveal of the already award-winning and fully electric EX30 small SUV earlier this year, the EM90 represents the second expansion of our model portfolio in quick succession. Both the EX30 and EM90 will help us to reach new audiences, cover more of the global automotive market and realise more profitable volume.
The EM90 also reinforces our commitment to be a fully electric car maker by 2030. In coming years we’ll roll out a whole family of new, fully electric Volvo cars, delivering on everything our customers expect from a Volvo with zero tailpipe emissions.
This renewed model portfolio will not only ensure that by 2030 we only sell fully electric cars around the globe, an important part of our sustainability commitments. It is also part of our journey towards profitable growth and becoming an industry leader in sustainable mobility.
“With the EM90, we're taking Volvo Cars' heritage and leadership in safety into the exciting new electric MPV segment,” said Jim Rowan, chief executive at Volvo Cars. “It allows us to tap new market demand we’ve not explored before and broadens the appeal of the Volvo brand to more people.”
A long heritage of versatility
While the MPV segment is a new one for us, the concept of versatility is far from unfamiliar territory. In fact, the Volvo Duett from 1953 was developed specifically as a versatile and spacious car, many years before the MPV segment was even formally created.
A highlight in our rich heritage that celebrates its 70th birthday this year, the Duett is still one of the most sought-after Volvo models by collectors and enthusiasts today. It was popular among both families and business owners in Scandinavia and the United States.
In later decades the Duett inspired our world-famous range of estates, and it was an equally important source of inspiration for our designers when they started work on the EM90.
Whether you wanted a practical company car for your business or a spacious family car that could also double as a space to sleep in during camping trips, there was a Duett variant for a broad variety of scenarios – its name, which means “two cars into one”, says it all.
Read more about the features in EM90 and what it can do in this blog post.
An important new segment
The EM90 presents an important addition to our fully electric portfolio and will support our position as one of the fastest-growing brands in the premium pure electric segment. While the premium MPV segment in China is relatively small today, it is an important one. And in the spirit of the Duett, our EM90 premium MPV serves a dual purpose for its customers.
When the car is not used for family trips, it doubles as executive business transport that offers the ultimate comfortable interior environment for meetings and business calls. In short, for customers looking for safety and a spacious, versatile and comfortable premium experience on the move, the EM90 is an exciting new option for them.
The Volvo EM90 is coming first to China and is now available for pre-orders for customers in China.
Volvo Cars in 2022
For the full year 2022, Volvo Car Group recorded an operating profit of SEK 22.3 billion. Revenue in 2022 amounted to SEK 330.1 billion, while global sales reached 615,121 cars.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
As of December 2022, Volvo Cars employed approximately 43,200 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).
For further information please contact:
Volvo Cars Media Relations
+46 31-59 65 25
Volvo Cars Investor Relations
+46 31-793 94 00