On Wednesday, Volvo Cars revealed a new investment in bidirectional EV charging startup dcbel. The company’s “r16” Home Energy Station is a full-fledged renewable energy ecosystem featuring solar power, bidirectional charging capabilities for backup power, and a smart home energy management system.
After being the first major premium car brand to commit to a full hybrid or EV lineup for all its models, Volvo aims to sell one million electrified cars by 2025.
Volvo’s first fully electric car, the XC40 Recharge, was launched in 2019, followed by the C40 Recharge, a smaller and lighter crossover version, in March 2021. Between the two models, Volvo saw fully electric sales rise 157% in the first three months of 2023, reaching 18% of total car sales.
The Swedish EV maker plans to launch at least one new electric vehicle each year until mid-decade, including the upcoming EX90 and its smallest SUV yet, the EX30, set for its global debut on June 7 to continue expanding into new segments.
With at least half of Volvo’s sales expected to be fully electric by 2025, the company aims to enhance the ownership experience. Its latest investment in bidirectional EV charging startup dcbel will give buyers a complete home energy management solution.
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