In June, Volvo relaunched its Polestar performance brand as a standalone line focused on electric cars and the company also said last year that it would release five fully electric models between 2019 and 2021, three under the Volvo brand and two under Polestar.

Most automakers have set some sort of EV goals for the near future. Mercedes-Benz said last year that it plans to offer electric versions of all of its cars by 2022 while Aston Martin announced that all of its vehicles would be hybrids or EVs by the mid-2020s and a quarter of its sales would come from EVs by 2030. Volkswagen is aiming to offer electric versions of each of its existing models by 2030 and is shooting for 80 new EVs across its brands by 2025. And Jaguar said last year that all of its new cars will be a hybrid or an EV starting in 2020. Meanwhile, Honda announced in 2016 that it wants two-thirds of its vehicles to be electric by 2030.

Volvo doesn't yet have a fully electric vehicle in its lineup, but one is expected out next year.