Volvo is about to reveal its first EV, the XC40 Recharge

Volvo has announced an ambitious plan to cut its carbon footprint by 40 percent.

Volvo has made the pledge to reduce the “life-cycle carbon footprint” of every one of its cars by 40 percent in the next five years.

That includes not only Volvo’s operations but those of the companies that supply it.

The automaker will reveal the first EV in its lineup, the XC40 Recharge, on October 16 in a live feed at 12:30 p.m. ET.

Automakers are making big promises to reduce the carbon emissions of their products, their companies, and all their associated facilities. Last year GM called for a national zero-emission program for automakers to make ZEV vehicles 25 percent of their lineups by 2030. Toyota has pledged to reduce vehicle life cycle emissions by 25 percent or more by 2030 as a part of its Environmental Challenge 2050, which seeks to eliminate vehicle lifecycle CO2 emissions by that date. Mercedes-Benz plans to make EVs half of its car sales by 2030 and wants to make it’s fleet completely carbon neutral within the next two decades.

Volvo has already said it expects half its cars to be electric by 2025. But today the company announced it would cut the life-cycle carbon footprint on each car by 40 percent by 2025. Volvo’s operations will emit 25 percent less carbon by that date, and so, too, will its suppliers.

If the company adheres to the plan, the recycling and reuse of materials in Volvo’s supply chain will increase notably. By 2025, the company says, each car it produces will contain 25 percent recycled plastics.

It’s a relatively near-term commitment that puts the company on pace to meet the goal of becoming climate neutral by 2040. And it plans to have its global manufacturing network climate neutral by the same timeframe. Volvo says their plans align with the Paris Agreement which aims to limit global temperature rise in this century.

This year, you’ll be able to see some of the company’s first steps. Starting now, Volvo says every new car launched will be electrified in some way with the eventual goal of phasing out the internal-combustion engine.

Back to that name: Recharge will not only be the name of the first EV, an XC40 but will be used going forward for all of the automaker’s plug-in electric vehicles.