(JW Insights) Nov 14 -- Volvo Cars launched its first ever electric multi-purpose vehicle(MPV) in Shanghai on November 12, marking the Swedish premium brand's attempt to enter a brand-new segment, reported China Daily on November 13.

The EM90, priced at RMB818,000 ($112,135), will be first sold in China as the premium MPV market is booming in the country, with a growing number of new choices from local brands.

"We actually see a move from executives traveling in sedans to executives traveling either in SUVs or even more so in MPVs," said Jim Rowan, chief executive of the carmaker, in an interview with China Daily.

Rowan called the model a living room on the move, adding that Volvo's signature features including safety, sustainability and Scandinavian design will prove attractive.

He added that Volvo is not a "volume player" and there are "enough people in China who appreciate the differences Volvo brings".

The EM90 also marks a new step towards Volvo's goal to become a fully electric carmaker by 2030.

But Rowan said electrification is just the tip of an iceberg when it comes to the future of the automotive industry.

He said one of the most important decisions he has made since he took the helm of Volvo in March 2022 was to accelerate development and increase investment in software.

He added China is changing very rapidly, not only in the automotive industry but also in terms of technology, so Volvo tries its best to listen to the customers and looks at its competitors to see why they are successful, according to the China Daily report.

(Gao J/Yuan XY)