Polestar 1 will start at $155000 in the United States

Volvo wants EVs to make up half of its sales by 2025

The Chinese government aims to have alternatively fuelled cars making up 20 per cent - seven million - of the nation's vehicle sales by 2025.

Adding to a declaration in 2017 that all Volvos will be offered with some form of electrification by 2019 - hybrid, plug-in hybrid and BEV - Volvo has now gone further and declared that half of their sales will come from fully electric cars by 2025.

At the Beijing Motor Show Volvo has announced that half of its vehicle sales will come from fully electric models as Volvo chase even more sales in China. The Electric Performance Hybrid powertrain consists of an internal combustion engine driving the front wheels, and a double electric rear axle drive system powering the rear wheels with electricity supplied by a 34-kWh battery.

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"One year ago we made a bold commitment", Samuelsson said during a Beijing press conference. The event marks the first time the company displays only plug-in hybrid vehicles at an auto show.

Volvo wants to reinvent itself as a premium electric vehicle maker with its new high performance brand Polestar.

In another first, side-by-side on stage, the company is displaying its three globally-available Volvo SUVs: the XC90, XC60 and the new XC40. The subscription plan will be similar to the Care by Volvo program that offers no-money-down two-year subscriptions that include maintenance and insurance for the XC40 SUV and V60 wagon. Beijing also marks the first public appearance for the T5 plug-in hybrid version of the new XC40. Volvo expects this trend to continue as China has a growing middle-class and the country's "growth trends [are] driven by domestic consumption".

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