DETROIT – Volvo Car Corp. will price the world's first series-production plug-in diesel hybrid at 57,000 euros, CEO Stephen Jacoby told Automotive News Europe.
Volvo plans to begin Europe-only sales of the V60 plug-in diesel in autumn.
"The V60 plug-in hybrid won't be just a technology showcase, but also our halo model in Europe," Jacoby said.
Initially, Volvo will make 1,000 units of the car, which will cost about 7,000 euros more than a comparably equipped, top-of-the-line V60 diesel.
Without being more specific, the CEO said that Volvo plans to boost production of the V60 plug next year so it can offer variants at prices closer to 50,000 euros.
He added that the V60 plug-in would be profitable from day one.
Gasoline hybrid for the U.S.
While Europe will get the plug-in diesel, Volvo plans to use the same hybrid architecture coupled with a gasoline engine on models for North America and China. Jacoby said Volvo's first plug-in gasoline hybrid is expected to make its U.S. debut in 2014, adding that the powertrain could be used in either the XC60 crossover or S60 sedan.
Jacoby also did not rule out offering gasoline plug-in hybrids in Europe.
The Swedish brand, which Zhejiang Geely Holding Group bought from Ford Motor Co. for about $1.5 billion in 2010, debuted its XC60 Plug-in Hybrid Concept at the Detroit auto show on Monday.
Volvo says the XC60 plug-in has an all-electric range of 57km and offers fuel economy of 2.4 liters per 100km in hybrid mode. The powertrain features a 70-hp electric motor combined with a 280-hp, four-cylinder turbocharged gasoline engine.
The V60 plug-in diesel has an electric range of about 50km and offers fuel consumption of 1.9-liters per 100km in the first 100km driven because it can tap into electricity stored in its batteries.