A Swedish multinational manufacturing company Volvo has uncovered that it will produce electric cars for all the models from 2019. In 2010, the brand was taken by the Chinese automotive giant called Geely.

Geely’s principal products consist of taxis, delivery vans, engines, automobiles and so on and it is Chinese Multinational automotive manufacturing company. The company sells taxis under the London Taxi brand and passengers cars under Geely and Volvo brands.

In 2016, Volvo sold around 534,000 cars across the globe and the company plans to produce around one million electric cars by 2020.

The president and CE of Volvo Cars, Hkan Samuelsson said, “This announcement marks the end of the sole combustion engine-powered car”.

At the press conference in Sweden, Samuelsson moves toward organizations around the globe to put more in battery and charging innovation. This will be a concern for SA’s crucial R96bn platinum industry. The industry supplies platinum for the catalytic converters in cars powered by the internal combustion engine.

The platinum the platinum industry is seeking after a move to power device vehicles, which require a platinum impetus, yet few auto creators have yet embraced the innovation.

Volvo stated that it was driving electric car sales leader Tesla and becoming the second electrified car maker.

From 2019, the company will be switching to electrified vehicles, so these will be at different levels.

The first will be mild hybrids, they will have a petroleum or diesel inside burning motor however with a 48-volt engine included that lifts control through brake recovery.

A senior vice president of research and development at Volvo, Henrik Green said, “The 48-volt will be cost-effective, compared to diesel”.

Samuelsson said, “Diesel is important for us reaching the 2020 target of 95g [of CO/km], Diesel was set to become more expensive in the longer term”.

The second level will be plug-in hybrids, whereas the third level will be a full battery-electric vehicle.