Volvo Sees All-Electric Vehicle as 'Right Thing To Do'

Hakan Samuelsson, CEO of Volvo Cars, discusses the company's strategy for electric vehicles (EVs) at an unveiling event in Los Angeles. He emphasizes the importance of profitability from day one, despite initially low volumes and higher costs. Samuelsson believes that in the mid to long term, EVs will offer higher value to consumers and are the right direction for Volvo.

Who is introduced at the beginning of the event in Los Angeles?

• The Mayor of Los Angeles

• A famous car designer

• The CEO of Volvo Cars

• The CEO of Tesla

What was Volvo's condition for entering the EV market?

• To have the most advanced technology

• To ensure it would be profitable

• To be the first in the market

• To have the largest car model

What is expected from the new EV in terms of profitability?

• It will only be profitable in Europe

• It will break even after a year

• It will be profitable from day one

• It will not be profitable initially

Why might the initial profit margin be lower for the new EV?

• Due to a lack of consumer interest

• Because of high advertising costs

• Because of low initial volumes

• Due to high competition

What is the long-term expectation for the EV's value to consumers?

• It will remain the same

• It will decrease over time

• It will have a higher value

• It will only appeal to niche markets