Volvo hopes to sell 1 million electrified cars by 2025 and will roll out at least two hybrid versions of each model to achieve it, the automaker announced.
Volvo has also previously announced its plan to introduce its first battery-electric car in 2019.
"It is a deliberately ambitious target," said Håkan Samuelsson, president and chief executive. "It is going to be a challenge, but Volvo wants to be at the forefront of this shift to electrification."
To lay the groundwork for the new vehicles, Volvo has introduced two electrified-ready platforms, inclding the Scalable Product Architecture (SPA) for its larger cars and Compact Modular Architecture (CMA) for a new lineup of smaller cars. The 90 series and 60 series vehicles will be built on the SPA, while a new range of 40 series cars will be built on the CMA.
Volvo has christened the new goal "omtanke," which is the Swedish word for consideration or caring.