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Yahoo
20-05-2025
- Business
- Yahoo
Soft Robotics Market Size to Hit USD 14.64 Billion by 2032, at 30.89% CAGR
Soft Robotics Market growth is driven by automation demand, advancements in AI, flexible grippers, and rising adoption across food and medical industries. Austin, May 20, 2025 (GLOBE NEWSWIRE) -- Soft Robotics Market Size & Growth Insights: According to the SNS Insider Report, 'The Soft Robotics Market was valued at USD 1.30 billion in 2023 and is expected to reach USD 14.64 billion by 2032, growing at a CAGR of 30.89% over the forecast period 2024-2032.' Factors Propelling the Growth of the Soft Robotics Market Increase demand of automation in e-commerce, food processing, and automotive sectors are mainly drive the growth of soft robotics market. Low cost, flexibility and accuracy are the giant advantages of the soft robots as compared to its hard counter part highly valuable for SMEs, for delicate applications like pick and place, packing and assembly with high reconfigure ability. Sizable growth is attributed to worldwide adoption of Industry 4.0, which requires scalable, safe and efficient robotic systems. Furthermore a range of products and forces are pushing the frontiers of soft robotics, such as development of novel materials, actuation systems, Instrumentation and control (I&C), artificial intelligence (AI), Bio-inspiration, soft robots that can self-heal and sensor technologies which are increasing the soft robotics system capabilities and precision, flexibility and safety. These technological breakthroughs push forward the penetration of soft robotics into multiple fields such as medical, industrial, and logistics applications. Get a Sample Report of Soft Robotics Market @ Leading Market Players with their Product Listed in this Report are: Soft Robotics Inc. (mGrip Modular Gripper) Festo (BionicSoftHand) ABB (YuMi with Soft Gripper) Shadow Robot Company (Shadow Dexterous Hand) RightHand Robotics (RightPick) Grabit Inc. (Electroadhesion Gripper) ROBOTIQ (Adaptive Gripper) Empire Robotics (Versaball Gripper) ReWalk Robotics (ReStore Soft Exo-Suit) XACT Robotics (XACT ACE Robot) Vicarious Surgical (Soft Robotic Arm System) Ekso Bionics (EksoNR with Soft Actuation) Smart Robotics (Smart Palletizer with Soft Gripper) Pliant Energy Systems (Velox Amphibious Robot) Kawasaki Robotics (duAro with Soft Gripper). Soft Robotics Market Report Scope: Report Attributes Details Market Size in 2023 USD 1.30 Billion Market Size by 2032 USD 14.64 Billion CAGR CAGR of 30.89% From 2024 to 2032 Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook Key Segments • By Type (Soft Grippers, Cobots, Inflated Robots, Exoskeleton)• By Component (Hardware, Software)• By End User (Healthcare, Advanced Manufacturing, Food & Beverages, Logistics, Others) Key Drivers • Growing Demand for Soft Robotics in Healthcare Food Processing and Manufacturing Driven by Technological Advancements.• Emerging Economies and Technological Innovations Driving Soft Robotics Growth in Healthcare and Industrial Automation. Purchase Single User PDF of Soft Robotics Market Report (20% Discount) @ Soft Robotics Market: Segment Insights Driving the Future of Flexible Automation By Type Soft grippers accounted for the largest segment in the soft robotics market, holding a 37.4% share in 2023, and due to their high precision and versatility the handling of fragile, irregular, or delicate shapes such as food & beverages processing, electronics, and packaging materials of all sizes. They are being used more and more in place of rigid grippers in automated assembly and quality control systems. The cobot segment is expected to experience the highest growth from 2024 to 2032, due to the increase in demand for human-robot collaboration in manufacturing, logistics and healthcare. Cobots, they bring with them safe and efficient cohabitation, a realization of greater flexibility, improved productivity, and lack of injury through smart manufacturing. By Component In 2023, the soft robotics market was led by the Hardware segment, which accounted for 71.3% of total revenue. The dominance is because of the critical hardware and machine elements (actuators, sensors, control modules, flexible materials and others) that are required to provide motion, gripping, and responsiveness solutions in industries like healthcare, manufacturing, food, among others. Customise application-specific hardware/blades make them unopposed on the market. The Software segment is expected to grow at the highest CAGR from 2024 to 2032, due to incorporation of AI, machine learning, and advanced control algorithms for better motion planning, real-time decision making, and adaptability in soft robots. By End User In 2023, the healthcare segment dominated the soft robotics market, accounting for 35.4% of total market share. This is due to the broader use of soft robotics in rehabilitation, surgical assistance, and wearable devices and the improved safety, flexibility, and adaptability for human contact. This direction is being additionally driven by increased investments in healthcare and device development. The Advanced Manufacturing segment is expected to grow at the highest CAGR from 2024 to 2032, owing to the adoption of smart automation and cobots in industries. The flexibility of soft robotics in the handling of delicate objects & complex assembly operations is promoting its adoption and in return leading to the transition to industry 4.0 and the need for flexible and safe automation systems. Soft Robotics Market Growth Drivers in Asia Pacific and North America In 2023, the Asia Pacific region held a 35.2% share of the soft robotics market, growing electronics manufacturing, and emerging healthcare infrastructure in China, Japan, and South Korea contributed to its growth. Others have positioned the region already as a center for robotics-innovation with, for example, Japan having its 'Society 5.0' and China staking it claims with 'Made in China 2025'. Soft robotics applications in manufacturing and rehabilitation are being developed in companies such as Soft Robotics Co. Ltd. Japan, and SIASUN Robot & Automation Co., China. It has a well-developed electronics supply chain and a large workforce. North America, on the other hand, is expected to experience the highest CAGR, due to high adoption of technology, investments in healthcare and industrial automation, and the presence of major players such as Soft Robotics Inc., which is expanding its product portfolio, and collaborating with renowned research institutes, to accelerate the growth of surgical robotics and collaborative systems. Do you have any specific queries or need any customized research on Soft Robotics Market? Submit your inquiry here @ Recent Developments: In March 2025, ABB has expanded its robotic Item Picking family with two new AI-powered modules, the Fashion Inductor and Parcel Inductor, to improve item picking and sorter induction in logistics. This development helps address challenges of increasing parcel volumes and workforce shortages by enhancing speed, accuracy, and productivity. April 2025, Kawasaki has unveiled Corleo, a hydrogen-powered robotic horse at the Osaka-Kansai Expo 2025, designed for riders to navigate diverse terrains with its four independent robotic legs. Powered by a 150cc hydrogen engine, Corleo combines AI and clean energy for stable movement and eco-friendly off-road mobility. Table of Contents - Major Key Points 1. Introduction 2. Executive Summary 3. Research Methodology 4. Market Dynamics Impact Analysis 5. Statistical Insights and Trends Reporting 5.1 Adoption of Soft Robotics by SMEs 5.2 Technological Advancements 5.3 Global Manufacturing Trends Impacting Soft Robotics 5.4 Soft Robotics Market by Robot Functionality 6. Competitive Landscape 7. Soft Robotics Market, by Type 8. Soft Robotics Market, by Component 9. Soft Robotics Market, by End User 10. Regional Analysis 11. Company Profiles 12. Use Cases and Best Practices 13. Conclusion About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. CONTACT: Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 | +44- 20 3290 5010 (UK)
Yahoo
20-05-2025
- Business
- Yahoo
Soft Robotics Market Size to Hit USD 14.64 Billion by 2032, at 30.89% CAGR
Soft Robotics Market growth is driven by automation demand, advancements in AI, flexible grippers, and rising adoption across food and medical industries. Austin, May 20, 2025 (GLOBE NEWSWIRE) -- Soft Robotics Market Size & Growth Insights: According to the SNS Insider Report, 'The Soft Robotics Market was valued at USD 1.30 billion in 2023 and is expected to reach USD 14.64 billion by 2032, growing at a CAGR of 30.89% over the forecast period 2024-2032.' Factors Propelling the Growth of the Soft Robotics Market Increase demand of automation in e-commerce, food processing, and automotive sectors are mainly drive the growth of soft robotics market. Low cost, flexibility and accuracy are the giant advantages of the soft robots as compared to its hard counter part highly valuable for SMEs, for delicate applications like pick and place, packing and assembly with high reconfigure ability. Sizable growth is attributed to worldwide adoption of Industry 4.0, which requires scalable, safe and efficient robotic systems. Furthermore a range of products and forces are pushing the frontiers of soft robotics, such as development of novel materials, actuation systems, Instrumentation and control (I&C), artificial intelligence (AI), Bio-inspiration, soft robots that can self-heal and sensor technologies which are increasing the soft robotics system capabilities and precision, flexibility and safety. These technological breakthroughs push forward the penetration of soft robotics into multiple fields such as medical, industrial, and logistics applications. Get a Sample Report of Soft Robotics Market @ Leading Market Players with their Product Listed in this Report are: Soft Robotics Inc. (mGrip Modular Gripper) Festo (BionicSoftHand) ABB (YuMi with Soft Gripper) Shadow Robot Company (Shadow Dexterous Hand) RightHand Robotics (RightPick) Grabit Inc. (Electroadhesion Gripper) ROBOTIQ (Adaptive Gripper) Empire Robotics (Versaball Gripper) ReWalk Robotics (ReStore Soft Exo-Suit) XACT Robotics (XACT ACE Robot) Vicarious Surgical (Soft Robotic Arm System) Ekso Bionics (EksoNR with Soft Actuation) Smart Robotics (Smart Palletizer with Soft Gripper) Pliant Energy Systems (Velox Amphibious Robot) Kawasaki Robotics (duAro with Soft Gripper). Soft Robotics Market Report Scope: Report Attributes Details Market Size in 2023 USD 1.30 Billion Market Size by 2032 USD 14.64 Billion CAGR CAGR of 30.89% From 2024 to 2032 Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook Key Segments • By Type (Soft Grippers, Cobots, Inflated Robots, Exoskeleton)• By Component (Hardware, Software)• By End User (Healthcare, Advanced Manufacturing, Food & Beverages, Logistics, Others) Key Drivers • Growing Demand for Soft Robotics in Healthcare Food Processing and Manufacturing Driven by Technological Advancements.• Emerging Economies and Technological Innovations Driving Soft Robotics Growth in Healthcare and Industrial Automation. Purchase Single User PDF of Soft Robotics Market Report (20% Discount) @ Soft Robotics Market: Segment Insights Driving the Future of Flexible Automation By Type Soft grippers accounted for the largest segment in the soft robotics market, holding a 37.4% share in 2023, and due to their high precision and versatility the handling of fragile, irregular, or delicate shapes such as food & beverages processing, electronics, and packaging materials of all sizes. They are being used more and more in place of rigid grippers in automated assembly and quality control systems. The cobot segment is expected to experience the highest growth from 2024 to 2032, due to the increase in demand for human-robot collaboration in manufacturing, logistics and healthcare. Cobots, they bring with them safe and efficient cohabitation, a realization of greater flexibility, improved productivity, and lack of injury through smart manufacturing. By Component In 2023, the soft robotics market was led by the Hardware segment, which accounted for 71.3% of total revenue. The dominance is because of the critical hardware and machine elements (actuators, sensors, control modules, flexible materials and others) that are required to provide motion, gripping, and responsiveness solutions in industries like healthcare, manufacturing, food, among others. Customise application-specific hardware/blades make them unopposed on the market. The Software segment is expected to grow at the highest CAGR from 2024 to 2032, due to incorporation of AI, machine learning, and advanced control algorithms for better motion planning, real-time decision making, and adaptability in soft robots. By End User In 2023, the healthcare segment dominated the soft robotics market, accounting for 35.4% of total market share. This is due to the broader use of soft robotics in rehabilitation, surgical assistance, and wearable devices and the improved safety, flexibility, and adaptability for human contact. This direction is being additionally driven by increased investments in healthcare and device development. The Advanced Manufacturing segment is expected to grow at the highest CAGR from 2024 to 2032, owing to the adoption of smart automation and cobots in industries. The flexibility of soft robotics in the handling of delicate objects & complex assembly operations is promoting its adoption and in return leading to the transition to industry 4.0 and the need for flexible and safe automation systems. Soft Robotics Market Growth Drivers in Asia Pacific and North America In 2023, the Asia Pacific region held a 35.2% share of the soft robotics market, growing electronics manufacturing, and emerging healthcare infrastructure in China, Japan, and South Korea contributed to its growth. Others have positioned the region already as a center for robotics-innovation with, for example, Japan having its 'Society 5.0' and China staking it claims with 'Made in China 2025'. Soft robotics applications in manufacturing and rehabilitation are being developed in companies such as Soft Robotics Co. Ltd. Japan, and SIASUN Robot & Automation Co., China. It has a well-developed electronics supply chain and a large workforce. North America, on the other hand, is expected to experience the highest CAGR, due to high adoption of technology, investments in healthcare and industrial automation, and the presence of major players such as Soft Robotics Inc., which is expanding its product portfolio, and collaborating with renowned research institutes, to accelerate the growth of surgical robotics and collaborative systems. Do you have any specific queries or need any customized research on Soft Robotics Market? Submit your inquiry here @ Recent Developments: In March 2025, ABB has expanded its robotic Item Picking family with two new AI-powered modules, the Fashion Inductor and Parcel Inductor, to improve item picking and sorter induction in logistics. This development helps address challenges of increasing parcel volumes and workforce shortages by enhancing speed, accuracy, and productivity. April 2025, Kawasaki has unveiled Corleo, a hydrogen-powered robotic horse at the Osaka-Kansai Expo 2025, designed for riders to navigate diverse terrains with its four independent robotic legs. Powered by a 150cc hydrogen engine, Corleo combines AI and clean energy for stable movement and eco-friendly off-road mobility. Table of Contents - Major Key Points 1. Introduction 2. Executive Summary 3. Research Methodology 4. Market Dynamics Impact Analysis 5. Statistical Insights and Trends Reporting 5.1 Adoption of Soft Robotics by SMEs 5.2 Technological Advancements 5.3 Global Manufacturing Trends Impacting Soft Robotics 5.4 Soft Robotics Market by Robot Functionality 6. Competitive Landscape 7. Soft Robotics Market, by Type 8. Soft Robotics Market, by Component 9. Soft Robotics Market, by End User 10. Regional Analysis 11. Company Profiles 12. Use Cases and Best Practices 13. Conclusion About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. CONTACT: Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 | +44- 20 3290 5010 (UK)Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
First SMR in North America To Be Operational in 5 Years
The Ontario government has green-lit Ontario Power Generation to build the first of four Small Modular Reactors (SMRs) at the Darlington New Nuclear Project site. OPG says it will be the first commercial grid-scale SMR in North America, with an in-service target date of 2030, and the first new nuclear build in Ontario in more than three decades. Ontario government support for the CAD$20.9 billion project came after OPG received a Licence to Construct in April from the Canadian Nuclear Safety Commission. The first SMR would cost $7.7 billion. All four SMRS are to be located next to the Darlington nuclear power plant east of Toronto and are expected to be running by 2035. The BWRX 300 modular plant was designed by G.E. Hitachi Nuclear Energy. It will have capacity for 300 megawatts of electricity, enough to power 300,000 homes. By comparison, Darlington's four conventional nuclear reactors each provide 935 MW. The Doug Ford government says the plants will help meet Ontario's future energy demands, which are expected to rise by 75 percent by rendering of the first Small Modular Reactor being built in Ontario. Source: Ontario Power Generation What are SMRs? Facing stiff emissions reduction requirements, several countries are starting to re-assess nuclear power and are looking at building plants that are not as expensive, risky, or politically unpalatable as conventional nuclear. Generally ,less than 300 MWe, SMRs are cheaper and can be built more quickly than large nuclear reactors, which are typically 1,000 MW and have a large footprint. Interest in small reactors is driven by a desire to reduce capital costs and to provide power away from large grid systems. SMRs are constructed with prefabricated modules and can be transported by truck or by rail — making them ideal for remote locations where a conventional reactor would not be feasible. Another important advantage is they are less likely to overheat, because their small cores produce less heat than those of large reactors. They also have fewer moving parts, including coolant pumps, which reduces the likelihood of failures that could cause an accident. The fuel, steam and generator are all in one vessel. Their small size and lower cost compared to large nuclear reactors makes Small Modular Reactors more versatile, meaning significantly more utilities will be able to use them. In Canada, SMRs are considered ideal for deployment to off-grid, remote locations such as mine sites or the oil sands, as well as communities in northern Canada reliant on diesel-fueled generators for electricity. Small nuclear reactors are also being eyed by industrial producers as carbon-free sources of heat. Other SMRs in the works In addition to OPG, other utilities including Saskatchewan's SaskPower and the Tennessee Valley Authority have expressed interest in building BWRX 300s, as have companies in Poland and Estonia, The Globe and Mail reports. Meanwhile Westinghouse, which built the world's first commercial pressurized water reactor in Shippingport, PA, in 2023 announced the launch of a smaller version of its flagship AP1000 nuclear reactor. The unit is, like the BWRX 300, able to generate 300 MW of electricity, versus 1,200 MW for the AP1000. It is expected to be available in 2027, at a cost of USD$1 billion per unit — significantly less than the $6.8B estimated to bring an AP1000 online. Some of the most advanced research on SMR technology is being conducted in New Brunswick. NB Power is currently working with two private-sector partners, ARC Clean Technology and Moltex Energy, to advance Generation IV Plus Grid-sized SMR technology for use in the Maritime province. In 2023, the New Brunswick government signed an agreement with the government of Saskatchewan to further enhance collaboration on the development and deployment of SMRs. The Western Canadian province is considering the same BWRX 300 Small Nuclear Reactor as Ontario. While no SMRs have yet been built in the United States, the Department of Energy has announced up to $5.5B in funding. According to my colleague Felicity Bradstock, an increasing number of tech companies are investing in SMR technology with the hopes of powering their high-energy-demand data centers with clean energy. The sector hopes SMR technology will be available to power several data centers by the 2030s, as their power demand grows in line with the rollout of artificial intelligence and other complex technologies. This has led Google to order seven SMRs, and Amazon, Microsoft, and Meta to follow suit. Bill Gates's Terrapower is one of the US companies currently building SMRs. Terrapower broke ground on its first project in Wyoming last August and is awaiting approval from the Nuclear Regulatory Commission, expected by the end of 2026. Further afield, France announced USD$1.1 billion to develop an SMR design. In the UK, Rolls-Royce is around 18 months ahead of the competition in developing SMR technology. In the Netherlands, the nuclear startup Thorizon announced a new consortium to develop a molten salt-type SMR. The firm is currently building a 100-MW Molten Salt Reactor (MSR), Thorizon One, which it hopes to get running in a pilot plant by the mid-2030s. It expects the first prototype to be fueled by a mix of long-lived radioactive waste from existing nuclear facilities and thorium. This will transform much of the long-lived waste into short-lived waste. MSRs are powered by a radioactive solution that blends fissionable isotopes with a liquid salt. While they can be powered using uranium, they run optimally on thorium, a cleaner, safer, and more abundant nuclear fuel. The SMR market is expected to grow from $6 billion in 2024 to $7.14 billion in 2030, growing at a CAGR of 3 percent. The Asia Pacific and Americas markets will likely be the main drivers of this growth. By Andrew Topf for More Top Reads From this article on
Associated Press
08-05-2025
- Business
- Associated Press
Aecon-led partnership awarded contract by Ontario Power Generation for the execution phase on the Darlington New Nuclear Project
TORONTO, May 08, 2025 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX: ARE) ('Aecon') announced today that Aecon Kiewit Nuclear Partners, a general partnership between Aecon and Kiewit Nuclear Canada in which Aecon is the lead partner, has been awarded an alliance construction contract by Ontario Power Generation ('OPG') for the execution phase on the Darlington New Nuclear Project ('DNNP') in Clarington, Ontario. Aecon's share of the contract is valued at approximately $1.3 billion and will be added to its Construction segment backlog in the second quarter of 2025. The project is being delivered under an Integrated Project Delivery ('IPD') model. During the execution phase, Aecon Kiewit Nuclear Partners will work collaboratively with partners OPG (owner and licence holder), GE Vernova Hitachi Nuclear Energy and AtkinsRéalis to deliver North America's first grid-scale Small Modular Reactor ('SMR'). Aecon Kiewit Nuclear Partners' scope of work during the execution phase includes project management, construction planning and execution, with completion and commercial operation expected in 2030. 'OPG's Darlington New Nuclear Project is a trailblazing undertaking – leading the way in delivering the next generation of nuclear plants across North America and internationally,' said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc. 'Aecon is proud to bring its diverse nuclear expertise and multidisciplinary capabilities to play a prominent role in safely executing this exciting project to meet the energy demands of future generations in Ontario.' 'Backed by over five decades of nuclear experience and the collective capacity of our project team, we are well positioned to successfully execute the next phase of this clean energy project with a steadfast commitment to safety, quality, schedule and cost performance,' said Aaron Johnson, Senior Vice President, Nuclear, Aecon Group Inc. 'Aecon continues to pursue strategic growth across a full spectrum of nuclear opportunities spanning large-scale new builds, SMRs, and life extension programs in existing and target priority markets.' Aecon is also the leading constructor for the three largest nuclear refurbishment projects in Ontario, including the Darlington Nuclear Refurbishment, the Pickering Nuclear Refurbishment and the Bruce Major Component Replacement program. Further information about the project is available on OPG's website. About Aecon Aecon Group Inc. is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility, and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc. Statement on Forward-Looking Information The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding: the anticipated timeline for the successful execution and completion of the project. Forward-looking statements may in some cases be identified by words such as 'may,' 'will,' 'expects,' 'target,' 'future,' 'plans,' 'believes,' 'anticipates,' 'estimates,' 'projects,' 'intends,' 'should' or the negative of these terms, or similar expressions. In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including but not limited to: the risk of not being able to meet contractual schedules and other performance requirements, the risks associated with a third party's failure to perform; the risk of not being able to meet its labour needs at reasonable costs; and the risk of not being able to address any supply chain issues which may arise. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions, and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources. Risk factors are discussed in greater detail in Section 13 - 'Risk Factors' in Aecon's 2024 Management's Discussion and Analysis for the fiscal year ended December 31, 2024 and Aecon's Management's Discussion and Analysis for the fiscal quarter ended March 31, 2025, each filed on SEDAR+ ( For further information: Adam Borgatti SVP, Corporate Development and Investor Relations 416-297-2600 [email protected] Nicole Court Vice President, Corporate Affairs 416-297-2600 [email protected]
West Australian
07-05-2025
- Automotive
- West Australian
Volvo XC70 returns from the dead, but it's no longer a wagon
The Volvo XC70 is back, but this time around it's a not jacked high-riding wagon, but a plug-in hybrid crossover. The XC70 is the first product from Volvo to ride on the new Scalable Modular Architecture (SMA) designed primarily for 'extended range plug-in hybrid' drivetrains. Newly reinstalled CEO Hakan Samuelsson says the new XC70 offers a 'highly attractive alternative to customers who are not yet ready for fully electric cars'. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now . Drivetrain and battery details have yet to be released, but the company claims the XC70 has an EV range of 200km when using China's generous CLTC standard. Similarly Volvo is keeping its powder dry regarding the XC70's dimensions, with the company simply stating it is 'slightly larger and more spacious' than the 4.7m-long XC60 . The XC70 will be available to order later this year in China, and Volvo says it will explore 'potential additional markets at a later stage'. Presumably more details about the car will be released closer to its full launch. Like the all-electric ES90 sedan and EX90 crossover, the XC70 has a grille-less front end featuring the latest interpretation of the Thor's hammer headlight graphic. Along the side, the XC70 has flush-fitting door handles and frameless windows. While at the rear, the brand's signature hockey stick tail-lights reach all the way up to the roof. Back in 2021 Volvo was one of the first 'legacy' automakers to commit to an electric-only range , promising to sell its last vehicle with an internal combustion engine by 2030. In Australia the brand was even more ambitious , claiming it would go EV-only by 2026. While the market share for electric vehicles continues to grow, especially in Europe and China, their uptake hasn't been quite as fast as many automakers had originally envisioned. Volvo has now revised its target , hoping to have electrified vehicles — plug-in hybrid and full electric — account for 90 per cent of global sales by 2030. Clearly the launch of an all-new plug-in hybrid model in 2025 wasn't part of Volvo's planning at the beginning of the decade. With the XC70, not only is Volvo reacting to drivetrain preferences, but according to Mr Samuelsson, it is also 'example of regionalisation, where we adapt to the local market needs'. Following on from the EM90 people mover, the XC70 is second Volvo model designed primarily with China in mind. The XC70 name has been dormant since the mid-2010s. Originally launched in 1997 as a high-riding, all-wheel drive variant of the V70 wagon patterned after the highly popular Subaru Outback based on Liberty wagon. Branding differed from market to market, with some calling the lifted the Volvo wagon the V70 Cross Country, and others the V70 XC. It wasn't until after the launch and success of the XC90 crossover the company finally settled on the XC70 name. Starting in 2016, Volvo simplified its model naming structure around the 40-, 60- and 90-series, eliminating the likes of the V70 and S80. It also reserved the XC prefix for its SUV-like crossovers, with lifted wagons reverting to the Cross Country moniker. MORE: Everything Volvo
