Volvo CEO Håkan Samuelsson recently stated that the company's electric vehicle (EV) business has become profitable and is now a key driver of sales and revenue growth. Although the profit margins of EVs remain lower than those of internal combustion engine vehicles, their standalone profitability has reinforced Volvo’s commitment to full electrification. At the same time, Volvo has not abandoned the hybrid market and is currently developing a new generation of plug-in hybrid systems that combine series-extended range and engine direct-drive modes, offering an all-electric range of approximately 160 kilometers. This new system is expected to debut on models such as the XC60 and will be produced at Volvo’s plant in South Carolina, USA, for upcoming plug-in hybrid models.