LUXURY vehicle maker Volvo is set to become an ‘all-electric car company’ by 2030 as there is only a decade left to change the way energy is used to avoid the worst impacts of change climatic.
That’s the revelation from Massy Motors Volvo Brand Director, Vir Sieunarine, who spoke to Express Business at the Volvo showroom last Friday at Massy Motors ONLady Young Road, Morvant.
In October last year, the automaker opened the Volvo showroom.
Sieunarine said the reason Massy Motors aligned with a brand like Volvo is because it’s about the future, sustainability and recycling.
“The new XC40 SUV is 100% recyclable. The leather is not real leather, it is a recycled material, animal and environment friendly; the car itself is a sleek, powerful car and has Scandinavian luxury. But it is a subtle luxury. It’s not like other brands when you see it on the road it stands out. And by 2030, all of their cars will be electric. Volvo is the only brand to have made this bold statement so far,” remarked Sieunarine.
“The starting price for the high-end electric vehicle (EV) is $590,000 because the technology is a bit more expensive. We have already started to get a lot of interest from our customers, so we expect good sales when the cars officially hit the market,” he said.
Additionally, the brand manager identified that the hybrid and electric car tax relief, which came into effect in May, helped Massy Motors push the electric brand.
“This tax exemption by the government comes at a crucial time, as it was recently announced that another hole in the ozone layer has been discovered. So why not align yourself with electric cars to actually do something to protect the environment?
“I hope these cars will become cheaper and that this system will be adopted by all manufacturers so that it becomes affordable for all consumers. Hyundai has already started with the Kona, and we have the fully electronic Ionic. Mini has its electric cars, and Audis, etc. That’s the direction the industry is leaning in. I know that when new technologies come out, they’re expensive initially, but eventually, as they get more and more adopted, they become affordable for everyone,” explained Sieunarine.
He said the two Volvo electric units, XC40 and C40, which were in stock were sold out last Friday and Monday.
However, Sieunarine said another 50 of the same units are expected to arrive between September and December. Customers have already started pre-booking these units.
“There are a lot of issues right now in the world that are affecting production. For example, the ongoing war in Ukraine is causing issues with access to make batteries, and the other products that all manufacturers use to make these cars are rare so it’s very hard to get into production. This alone has driven the cost of cars up dramatically. Cars, on the whole, have become more expensive and may continue to be so in the future by according to the evolution of the world.
Asked whether Massy Motors had raised prices for its range of vehicles, due to the effects of Covid-19, Sieunarine said that in the past three years the automaker had not raised prices. It was only recently that the dealership was forced to raise prices for some vehicles, due to shipping costs and other issues with getting cars into the country.
“The automotive industry as a whole has taken a serious hit during the Covid-19 shutdowns. However, Massy Motors has ensured that all staff are paid.
On moving away from combustion engine vehicles, Sieunarine said the discussion about electric cars was still there, but one of the most influential people in this industry who also had the vision was Elon Musk when it started with the Tesla.
“That momentum that it has and the viability of that market, that showed the world that electric cars are here. They’re stylish, they’re efficient and in a world where gas prices keep rising, what do we have to lose? And that propelled the whole industry and Volvo rode on it,” Sieunarine said.
The brand manager pointed out that just being able to charge your vehicle at home and not rush to queue to pump gas is a plus. “You go home and you recharge. I did some basic calculations with my electricity bill at home. So those are mine, not the company’s, and may not be accurate, but it came to about 28 cents per mile. It’s very fuel efficient and Massy Motors is teaming up with Volvo to fit chargers throughout the TT. We will start by installing chargers in all of our locations. After that we’ll swerve and probably put in big hotels and malls and whitewash areas, like One Woodbrook Place.
He noted that while recent studies have shown that 98% of electric vehicle owners charge their cars only at home, you can’t put a price tag on the perceived peace of mind if you leave your house and you know that if something goes wrong, you can charge anywhere.
“It will help increase sales of the vehicle and we’re all about that electric life. And it’s not just for our electric cars, but anyone with an electric car or make or model can go there. ‘utilize.
Sieunarine added that the goal is to make Massy Motors’ entire portfolio electric. “We are trying to move in that direction. I think that’s where the future lies, and of course it’s a substantial amount. It’s a big risk. but it’s a risk we think is worth it.
The Just Auto website recently reported that Volvo Electric’s global growth is expected to accelerate, with the main driver being the higher value of electric vehicles and machinery. With electric vehicles, it is possible to increase total vehicle and service revenue per unit by more than 50% over the life cycle.
“Leveraging the group’s first mover advantage to gain market share and expand service offerings should also drive growth. While seizing these growth opportunities, the financial targets remain,” said Just Auto.