Volvo has announced a major leap forward in an effort to embrace an electrified portfolio of vehicles.
The Swedish automaker will go all-electrified come 2019; every single vehicle it launches will feature an electric motor in some usage.
To be clear, this is not the immediate end of the internal-combustion engine for Volvo: its electrified future will be composed of not only battery-electric vehicles and plug-in hybrids, but also 48-volt mild hybrids.
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The mild-hybrid systems will become optional equipment for every single Volvo in the future.
The electric motor in such a system aids in performance, but cannot power the car alone—which itself underscores that this announcement isn't the death of the combustion engine.
Still, it's an aggressive step forward to pursue a business strategy focused solely on electrified cars.
Volvo CMA modular compact car platform in electric configuration
Volvo will launch five fully-electric cars between 2019 and 2021—three will be Volvos, while two will come from Polestar, the brand's standalone performance division.
Volvo says the five cars will be supplemented by a range of plug-in gasoline, plug-in diesel, and mild hybrid variants.
Meanwhile, the company's CEO said that its current generation of diesel cars may be its last.
The automaker had previously announced it will assemble its first electric car in China, which will help it meet aggressive sales targets.
Volvo aims to sell, 200,000 vehicles in China by 2020 and 800,000 globally by the same time.
By 2025, Volvo wants to have sold 1 million electrified cars; for some perspective, Volvo's total global sales in 2016 ran to 534,000 units.
2016 Volvo XC90 T8 'Twin Engine' plug-in hybrid, Spain, Feb 2015
Additionally, its first electric car is expected to be priced at or under $40,000, which would make it a true competitor to the Tesla Model 3 and Chevrolet Bolt EV.
The automaker's plan to electrify its lineup also underscores its goal to minimize the environmental impact of its cars and their manufacturing processes.
Volvo has also said it is targeting a 2025 date to employ completely environmental-neutral manufacturing techniques.
The small Swedish maker says it hopes to become a global leader in electric cars, in part through economies of scale provided by its Chinese owner, the mass-market brand Geely.