Sales are boosted, among other things, by a continued large recovery in China, which at the beginning of last year was partially shut down due to the pandemic.

During the first two months of the year, Volvo Cars' sales in China increased by just over 160 percent compared with last year.

Volvo Cars announced on Tuesday that the company will only sell electric cars by 2030.

In February, electric cars and hybrid variants accounted for about a quarter (26.6 percent) of total sales globally and for almost half (44 percent) of sales in Europe.

Hear more about Volvo's investment in electric cars in the clip below:

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Today, Volvo presented its new electric car C40, built for pure electric operation.

Photo: SVT