(MENAFN) Volvo Cars revealed their first Polestar model and aim to invest 5b Yuan (760m USD) in the electric car brand, preparing for fierce competition to sell green cars in the biggest auto market worldwide.
China already declared it wants electric and hybrid cars to make up a minimum fifth of Chinese auto sales by 2025.
The Polestar 1 will be enrolled into production in the Chinese city Chengdu in mid-2019, and will be soon followed by Polestar 2, the smaller and fully electric.
The company also declared that all its vehicles launched after 2019 will be hybrid or electric.
China has put a strict share for electric and hybrid cars that car companies need to reach by 2019, and has already began considering a final ban on the making and selling of vehicles using usual fuels.
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