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Section: Business
Volvo is reviving the XC70 nameplate with plans to launch a new SUV featuring a plug-in hybrid drivetrain, specifically targeting the Chinese market. This move comes in response to the growing demand for hybrid vehicles in the region.
In the previous year, Volvo achieved remarkable success in Germany, selling 13,052 plug-in hybrids of the XC60, leading the market in this segment. This performance surpassed the total sales of plug-in hybrids by Volkswagen, indicating strong consumer interest in Volvo's hybrid offerings. With this new XC70 model, the company aims to cater to the preferences of Chinese consumers who are increasingly prioritizing electric range.
The XC70 is built on Volvo's Scalable Modular Architecture (SMA) platform designed for plug-in hybrids. The SUV is expected to deliver an estimated electric range of up to 200 kilometers according to the China Light-Duty Vehicle Test Cycle (CLTC). It's important to note that this figure is based on estimates and not promises, and does not directly correlate with the European WLTP standards, which typically reflect higher driving speeds. Even with a potential WLTP range of 150 kilometers, the XC70 would still position Volvo favorably in the market.
While specific details regarding the battery's energy capacity, vehicle dimensions, and fuel consumption have not been disclosed, Volvo has indicated that the XC70 will support rapid charging capabilities, although the specifics remain unspecified. Unlike some competitors, this vehicle will not utilize a serial hybrid configuration; instead, the internal combustion engine will also provide direct power to the wheels, rather than solely functioning as a generator.
The original XC70 was produced until 2016 and was one of the pioneering models in the station wagon segment. There are discussions about the possibility of exporting this new SUV to Europe in the future, but it is not anticipated to arrive on European shores in the immediate term. Volvo's existing XC60 has recently undergone minor updates, and the larger XC90 is also set for modifications. The introduction of the XC70 would require Volvo to attract a significant number of new customers, though its target demographic may overlap with those of the XC60 and XC90.
Volvo continues to be a leader in the import of electric and plug-in hybrid vehicles in Germany, reflecting the brand's commitment to sustainable and innovative solutions in the automotive industry.
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