Volvo Enters Hybrid Market

By dancurranjr On June 5th, 2009

volvoVolvo Cars, the Swedish unit of Ford Motor Co., and Swedish utility company Vattenfall AB have started a joint venture that will develop a new hybrid car that can be charged using a standard household wall socket.

The so-called plug-in hybrid, powered by both electricity and diesel, will be introduced on the Swedish market by 2012, Volvo said Monday in a statement. Volvo will make the cars and Vattenfall will develop the charging systems.

“This is an important business development for us and our partnership with Vattenfall allows us to take a giant step toward offering our customers cars with an even smaller environmental footprint,” Volvo Cars Chief Executive Officer Stephen Odell said in the statement.

SOURCE: Windsor Star

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