Volvo Creating "True Dream Car" Plug-In Hybrid For 2012

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If there’s any car company that hasn’t announced some type of electric car initiative, it might want to hurry up. Pretty soon there won’t be any left.

Today it’s Volvo’s turn to promote its electric car. The Swedish automaker, who is owned by Ford, for now, announced it will have a plug in hybrid on the road by 2012. It “will be a true dream car,” says Stephen Odell, President and CEO of Volvo Cars. So that’s exciting.

To make the “true dream car”, a true reality car, Volvo is teaming up with Vattenfall, a Swedish power company. Vattenfall will produce charging infrastructure so drivers can charge up at home. Volvo will design cars that will be powered by lithium ion batteries. The batteries will take 5 hours to rechage, and will get a little juice every time the brakes are applied, according to the release.

Volvo will have a demonstration model that it shows off this summer. From there it hopes to start production in 2012.

“We do of course expect that the purchasing price will be higher,” Odell says, according to Reuters, who attended the Volvo press conference to announce the deal. “In this area we are keen to see further subsidies and incentives from the political arena to promote green choice among customers.”

Reuters also reports the car is expected to get a paltry 30 miles per charge. When the charge is done, the range extending engine takes over, which means the car travels much further, but man is 30 miles weak.

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