Volvo Car Group, including its affiliates Lynk & Co and Polestar, have been producing vehicles based on the Compact Modular Architecture (CMA) platform, introduced in 2017.
By the end of July 2020, more than 600,000 Group vehicles based on the platform had been sold. He platform was co-developed by Volvo Cars and Zhejiang Geely Holding, which acquired Volvo Cars in 2010.
The platform debuted in 2017 with the Volvo XC4; and due to its modular design, was used to create the Lynk & Co 01, 02, 03 and 05, as well as the pure-electric 2020 Polestar 2 and Volvo’s first all-electric model — the XC40 Recharge P8. Deliveries of the new CMA-based Polestar 2 began earlier this month.
Håkan Samuelsson, chief executive at Volvo Car, said: “We are incredibly proud of these sales figures for our CMA cars. We have had 10 very successful years with Geely, and we will continue to leverage the excellent partnerships we have created within the Group to pave the way for further growth and synergies.”
Since the acquisition, Volvo Cars has completely renewed its product portfolio of SUVs, estates and saloons, becoming the first ‘traditional’ car maker to commit to all-out electrification, supported by the introduction of its Recharge brand.
The range offers a PHEV option on all Volvo car models, with the aim that by 2025 half of its global sales volume will consist of fully electric cars, with the rest hybrids.
Over the past decade, the company has transformed its business to become ‘a truly global player’ in the automotive industry, having grown its world-wide sales from 449,255 in 2011 to more than 700,000 in 2019, more than doubling its revenue from SEK 126 billion in 2011 to SEK 274 billion in 2019, and strengthened its operating profit from SEK 1.6 billion in 2011 to SEK 14.3 billion in 2019.
The company has also expanded its manufacturing and R&D network around the globe; while it started out with two manufacturing facilities and an engine plant in Europe, it now has four additional manufacturing sites and an R&D centre in China, as well as a factory in the USA.