Here’s What Portion of Volvo Sales Are Now EVs

• Volvo reveals that over the past year its share of battery-electric vehicles sold globally has reached 10.9%, up from 3.7% in 2021.

• In December 2022 alone, EVs accounted for 20.1% of all vehicles sold by the Swedish automaker, not counting PHEVs.

• The Volvo EX90 SUV and its Polestar 3 sibling are due to arrive in the second half of 2023, as the brand works its way toward an all-EV lineup by the end of the decade.

Volvo has made electric cars a priority with plans to go EV-only by 2030, and even before the market debut of the new EX90 SUV the automaker is making big strides in that direction.

The Swedish carmaker revealed that in 2022 its share of battery-electric vehicles sold globally reached 10.9%, compared to just 3.7% during 2021. In the last month of the year, that share taken alone reached 20.1% globally, pointing to an upward trend, and with plug-in hybrid Recharge vehicles added that share ticked up to 43.8% in December.

There are regional differences. Over the past year buyers in Europe benefitted the most from Volvo's battery-electric choices, with 45,690 EVs sold. The US, meanwhile, saw 7308 EVs sold along with another 20,691 plugin-hybrid vehicles. That's up from 6392 EVs sold here in 2021, representing modest growth of 14.3%.

In all, Volvo sold 66,749 battery-electric models globally in 2022, with 138,603 PHEVs added on top of that.

By comparison, in 2021 Volvo sold 25,727 battery-electric models representing a 159.5% jump for 2022. But Volvo sold a higher number of PHEVs in 2021—163,489 compared to 138,603 in 2022.

"Volvo Cars’ full-year sales performance was affected by challenges across the supply chain, as well as production restraints caused by component shortages and COVID-related lockdowns in China. Despite this, demand for Volvo cars remained robust," the automaker noted.

Volvo's overall sales in Europe actually declined significantly, by 15.7%.

2023 is poised to be a big year for Volvo's electric models as it rolls out the EX90. The seven-seat electric SUV will represent a significant leap for Volvo in performance and technology, with the dual-motor version offering 517 hp and 671 lb-ft of torque courtesy of an 111-kWh battery. The EX90 will go on sale this year and will be built in South Carolina.

Of course, there is also Polestar—an in-house Volvo tuner just a few years ago, and now its own brand of electric vehicles. The automaker will begin production of the 2024 Polestar 3 crossover in the second half of this year, offering its own mix of advanced tech and performance.