Volvo has shaken up the automotive world with its recent announcement that it will produce only electric or hybrid models after 2019. For some, the move is a PR stunt, an attempt to ride the tide of enthusiasm for sustainable energy and divert attention directed at Tesla, the upstart auto manufacturer whose market valuation threatens to surpass that of General Motors. For others, it is a bold move to claim the pole position in the automobile market of the future.

For casual observers and drivers, the announcement is an oddity as Volvo is considered a stodgy manufacturer of boxy, safe and dependable vehicles. Aficionados know, however, that the company has been a pioneer of numerous auto safety innovations, such as the three-point seat belt. Under the hood Volvo has been committed to a smaller engine than most other major carmakers — a move that predated the focus on fuel economy and emissions. That decision forced Volvo to explore hybrid technologies to power luxury vehicles whose purchasers demanded no sacrifice in speed or acceleration despite having smaller engines.

While the decision was made by Volvo Cars CEO Hakan Samuelsson, it aligns perfectly with the interests of Zhejiang Geely Holding Group, the Chinese company that bought Volvo in 2010. China has become the company's largest market and the decision to go electric will strengthen its position there as China increasingly focuses on going green. China accounts for half the world's electric vehicle sales. It is forecast that sales there will reach 580,000 units this year, a 58 percent increase from 2016. To better tap that market, Volvo will be producing its first fully electric car in China in 2019 — one of five new models the company will launch between 2019 and 2021 — and will export them around the world, though it will also produce new models at manufacturing facilities in Europe and the United States.