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Göteborg, Sweden – Volvo Car Corporation has joined with three other Sweden-based companies, including Saab, and the Swedish government to launch a research and development venture into plug-in hybrid vehicles. The field tests will be conducted in Sweden.

“I see this project as a positive further development of sustainable personal transport,” said Fredrik Arp, President and CEO of Volvo. “We have a unique opportunity to take the lead when it comes to innovations for advanced green-car technology.”

The project will be carried out jointly by Volvo Car Corporation, Saab Automobile AB, electricity provider Vattenfall AB, and ETC Battery and Fuel Cells Sweden AB. The project aim is to develop and demonstrate the next-generation hybrid vehicles; a fleet of ten plug-in hybrids will be produced with batteries that can be recharged directly from a wall power socket found in most homes. The joint operation will provide all members with the opportunity to participate in and shape decisions and initiatives in the field of sustainable mobility.

Over a five-year period, Volvo will invest more than 11 billion SEK to develop technologies to reduce fuel consumption and emissions. The joint initiative will work in conjunction with the company’s ongoing efforts to enhance the efficiency of its gasoline- and diesel-powered cars. In the medium term, the company will introduce hybrid variants where an electric motor supports the combustion engine, and will introduce plug-in hybrids in the long term. In September 2007, the company introduced its Volvo C30 ReCharge Concept, which cuts carbon dioxide emissions by up to 65 per cent compared with hybrid cars available on the market today.