Volvo Car Group, including its strategic affiliates Lynk & Co and Polestar, produce vehicles based on the Compact Modular Architecture (CMA) platform, introduced in 2017. To the end of July more than 600,000 group vehicles based on the platform have been sold.
The CMA platform, co-developed by Volvo Cars and Zhejiang Geely Holding (Geely), is an example of the joint development, production and procurement achieved since Geely’s acquisition of Volvo Cars on 2 August 2010.
The platform made its debut in 2017 with the popular Volvo XC40. Due to its modular design, the platform 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.
Since the CMA-based XC40 was introduced in 2017, 302,856 units have sold.
Lynk & Co, a joint venture between Volvo Cars, Zhejiang Geely Holding and Geely Automobile, introduced in 2017, had in June 2020 sold a total of 309,255 of its 01, 02, 03 and 05 models.
Geely Automobile, controlled by Zhejiang Geely Holding, also produce vehicles on the CMA platform. In June 2020, it had sold a total of 35,708 CMA-based vehicles.
Deliveries of the new CMA-based Polestar 2, which will begin in August, will continue to drive sales on this successful platform.
Since the acquisition by Geely ten years ago, Volvo Cars has completely renewed its product portfolio of SUVs, estates and sedans, and became the first traditional carmaker to commit to all-out electrification, supported by the introduction of its Recharge range. The range offers a PHEV option on all of 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.
The CMA platform is the foundation for the new Volvo XC40 Recharge; the first of Volvo’s fully-electric Recharge range. Deliveries of the XC40 Recharge will start this fall.
Over the past decade, Volvo Cars has transformed its business to become a global player in the automotive industry. It has grown its global sales from 449,255 in 2011 to more than 700,000 in 2019; more than doubled its revenue from SEK 126 billion (US$14.4 billion) in 2011 to SEK 274 billion (US$31.3 billion) in 2019, and strengthened its operating profit from SEK 1.6 billion (US$183 million) in 2011 to SEK 14.3 billion (US$1.6 billion) in 2019.
The company also expanded its manufacturing and R&D network across the globe: while it started out with two manufacturing plants and an engine plant in Europe, it now has four additional manufacturing sites and an R&D center in China, as well as a manufacturing plant in the United States.
In the coming years Volvo Cars aims to establish itself as a leader in electrification and by 2025, it wants half of its global sales volume to consist of fully electric cars, with the rest hybrids.
It also aims to establish millions of direct consumer relationships through new forms of mobility, and it expects to play a leading role in the safe introduction of autonomous drive technologies.