Volvo focused on electric EVs for now, taking cautious approach to its portfolio

Volvo continues gearing up for an electrified product lineup but won't hastily release and produce vehicles just to try it. Instead, expect each new Volvo car or SUV announcement ready to deliver an enjoyable driving experience.

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The first four Volvo EVs should all be SUVs, though other car types will eventually become available. Volvo wants to create a roadmap that offers variety for auto buyers - and the company wants to cater to all drivers - but will be strategic. Expect one EV announcement each year, while the automaker chases climate-neutral status by 2040.

Here is what Volvo CEO Jim Rowan recently told Autocar: "Our strategy is that we will be tight. We'll look after the demographic that we think makes sense. We've teased what's coming next, and we'd already signaled we'd do a smaller SUV. Then different formats, saloons and estates or whatever: we'll get to that when we get to that."

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Rowan also added the company doesn't want to rush: "40 different models is not our strategy." That business plan is probably a wise one due to the company's effort to become fully electric by 2030. Keep in mind, EV design does offer some advantages, like the ability to share tech developments among the entire product line - but design and production is still complex.

The Swedish company recently unveiled the 2024 Volvo EX90 SUV with around 300 miles of driving range on a charge. Volvo worked with NVIDIA and other tech companies to create a safer, more leisurely trip - and other automakers are hashing out their own partnerships.