Volvo Trucks Korea said last week that it is preparing to launch a heavy-duty all-electric truck in 2023. The news comes as Volvo aims to bolster its status as a pioneer in the South Korean imported truck market.
The Swedish-born brand is considerably popular in South Korea, having sold around 2,000 trucks in the country in 2021. That's about 40 percent of the truck market. Volvo's goal is reportedly to raise that figure to 50 percent by 2025.
Volvo arrived in South Korea in 1996, a year before the Asian financial crisis. The company has since rebounded, projecting to sell its 30,000th unit in the country before the second half of 2022. In 2025, it aims to sell 10,000 more units within the next three years, for a cumulative sales total of 40,000 units.
Launching an electrified truck could do wonders for the company's sales prospects in the coming years. We're right in the middle of the EV revolution, and the brands with the best offerings could end up victorious in the long run.
In the Philippines, Volvo has yet to offer an electric truck model. The brand has not even expressed any plans to do so in the future. That will likely change soon. For now, prospective Volvo Trucks customers in the Philippines will have to settle for traditional trucks.
Volvo Trucks' local offerings include the FH, FH 16, FM, FMX, and Big Bus ranges. These models could fit the needs of medium to large-scale businesses aiming to augment their commercial fleets. The trucks are available in a variety of body applications, including rigid truck and tractor head models in light, medium, and heavy-duty configurations.
Meanwhile, the Big Bus range offers upscale mass transport solutions for a more premium riding experience. These models are currently in use by some of the country's top bus operators.
