Volvo's Electric SUV Combining Safety and Electrification Technologies to Be Unveiled in Korea This Year

Jim Rowan CEO and Headquarters Executives Visit Korea
"We Will Strengthen Leadership in Safety and Electrification"
Targeting 17,500 Domestic Sales This Year

Swedish automobile brand Volvo will unveil its electric sports utility vehicle (SUV) EX90 in South Korea at the end of this year. The launch is scheduled for next year. This year, the domestic sales target has been set 20% higher than last year. Along with large-scale investments to increase customer touchpoints, a system enabling in-vehicle payment during refueling and charging will also be introduced.

Jim Rowan, CEO of Volvo Cars, held a media conference on the 14th under the theme "A New Era of Volvo" to reveal these plans. The event was attended by Volvo's top executives, including CEO Rowan, Chief Sales Officer (CSO) Bj?rn Annwall, and Chief Operating Officer (COO) Javier Varela.

On the morning of the 14th, Jim Rowan, Global CEO, spoke at the Volvo Cars Korea media conference held at the Shilla Hotel in Jung-gu, Seoul.

Volvo Korea sold a total of 14,431 units domestically last year. For four consecutive years, it has recorded sales exceeding 10,000 units, surpassing a cumulative sales volume of 100,000 units. In the country ranking by sales, it jumped from 28th place in 2013 to 9th place last year. As the Korean market rapidly grows, Volvo's top management visited Korea first among Asian countries.

CEO Rowan said, "Korea is a rapidly growing market, and I thought now is a good time to come," adding, "We will continue to develop new standards and technologies to deliver new leadership for the next 100 years, starting with important customers in Korea."

The electric SUV EX90, which consolidates the brand's electrification technology, is scheduled to be unveiled domestically around the end of the year. This vehicle is a 7-seater family car capable of driving up to 600 km on a single charge. It features significantly enhanced safety performance with sensors, radar, cameras, and lidar that can detect up to 250 meters ahead. The company explained that the accident rate has been reduced by 19%.

Volvo Electric SUV EX90

The vehicle uses batteries from China's CATL and LG Energy Solution. COO Varela said, "The EX90 embodies all of Volvo's technology and design, including electrification, with sustainability in mind," adding, "It will be a 'game changer' in the industry, including Volvo."

Volvo Korea set this year's sales target at 17,500 units. The number of showrooms will increase by seven to 39, and service centers will be expanded by eight to 40. Although some countries such as the UK have introduced online sales systems, the domestic sales structure will maintain sales through dealers as it is now. Volvo Korea CEO Lee Yun-mo said, "We plan to invest 110 billion won this year to expand networks such as showrooms and service centers," adding, "We will also establish a 5 billion won donation fund for regional economic coexistence."

Lee Jong-ho, CEO of Tmap Mobility, which supplies Volvo's vehicle infotainment system, personally introduced new services and upcoming improvements. In-vehicle payment, called 'In-Car Payment,' and OTT services allowing Wave streaming will be available from the second half of this year. New features such as route guidance linked with traffic light information, specialized services for electric vehicles, and Tmap driving habits will also be introduced.

Jim Rowan, Volvo CEO (from left), Bjorn Annwall, CSO, and Yoon Mo Lee, Volvo Korea President, are having a discussion at a media conference on the 14th.

This content was produced with the assistance of AI translation services.