Don’t expect a new Volvo between now and 2020 – the Swedish luxury brand will focus on electrifying its lineup in the short term before launching any new cars.

Additionally, Volvo has set an ambitious sales target of 800,000 vehicles per year by 2020, according to an Autocar report. The goal is a precursor to its ambitions to sell 1 million electrified cars by 2025. The brand will double down on its current lineup, which Volvo believes covers 98 percent of the market segments, and work to continue implementing electrification.

Volvo was one of the first brands to announce intentions to go all-electrified. The future will include 48-volt mild-hybrid systems, plug-in hybrids and battery-electric powertrains. The first all-electric Volvo will likely be the XC40 crossover, which will also see a plug-in variant. The brand quietly announced the two future variants while debuting the XC40’s new 3-cylinder engine.

SEE ALSO: First Electric Volvo Truck Deliveries Coming in 2019

The plug-in model will likely boast a 31-mile electric range and arrive sometime in 2019. It’s unclear when we’ll see a battery-electric XC40, but Volvo previously said its first electric car will come with at least 250 miles of range. Ahead of any battery-electric Volvo, the Polestar brand is expected to launch its first EV, perhaps based on the Concept 40.2 shown last year.

As Volvo expands its electrified offerings, it’s also prepping the next V40 hatchback. After 2020, the Swedish brand could expand its portfolio to include a convertible and a coupe SUV.

[Source: Autocar]