From the Volvo press release:
"Volvo Cars will introduce a portfolio of electrified cars across its model range, embracing fully electric cars, plug in hybrid cars and mild hybrid cars.
It will launch five fully electric cars between 2019 and 2021, three of which will be Volvo models and two of which will be high performance electrified cars from Polestar, Volvo Cars’ performance car arm. Full details of these models will be announced at a later date.
These five cars will be supplemented by a range of petrol and diesel plug in hybrid and mild hybrid 48 volt options on all models, representing one of the broadest electrified car offerings of any car maker."
This is another significant development for Volvo, which has lately been having a renaissance under the ownership of Geely in forging its own, differentiated identity. To go from zero fully electric vehicles in 2018, to five by 2021, a space of only three years, will be a big achievement. More importantly, it is a substantive acknowledgment by a 'traditional', mainstream automotive manufacturer that the writing is on the wall for the internal combustion engine.
It's understandable that a mainstream manufacturer such as Volvo may not desire to leave existing customers (that live in areas with poor electric vehicle charging support) to hang out to dry by immediately ceasing support and development of combustion engined vehicles. But what is more important to understand is that hybrid vehicles that marry an electric motor to a combustion engine are a mere transition point, and not the final solution to achieving sustainable transport.
The only pragmatic option for sustainable transport is a fully electric vehicle powered by electricity from a renewable energy source. The sooner the automotive industry realises this, and follows Tesla's lead in independently building the requisite infrastructure, or forms a partnership with government to do so, the better. At this early stage, however, it's applaudable that Volvo has looked to the future and boldly taken a bet on a powertrain that currently only makes up a minuscule, albeit growing, share of the global automotive market.