Volvo Trucks Korea to launch electric truck in 2023

SEOUL, Feb. 11 (Yonhap) -- Volvo Trucks Korea said Friday it will launch a large-size electrified truck in 2023 as it seeks to cement its leading status in the local imported truck market.

The Swedish truck maker sold 2,000 trucks in Korea last year, accounting for 40 percent of the imported truck market. It aims to raise the ratio to 50 percent in 2025.

"The domestic large truck market is expected to recover to 10,000 units this year, and demand for trucks will improve going forward," Volvo Trucks Korea President Park Gang-serk said in a press conference.

Volvo Trucks advanced to the Korean market in 1996, and its accumulated sales are expected to exceed 30,000 units during the first half of this year, the company said in a statement.

It aims to achieve 40,000 in cumulative sales, or a market share of 50 percent, by 2025.

kyongae.choi@yna.co.kr
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