Volvo expects electric-car margins to match conventional vehicles by 2025

Volvo expects its margins on electric cars to match those of vehicles with combustion engines by 2025, CEO Hakan Samuelsson said. Automakers are planning a $300 billion surge in spending on electric vehicle technology over the next five to 10 years but have admitted that higher component costs and limited take-up in initial years will hit margins. Volvo is investing about 5 percent of its annual revenue, equating to $1 billion a year, in building driverless and electric cars and has promised to bring five full-electric cars to market in the next few years…