Volvo to be fully electric by 2030
Volvo has announced that it will only sell electric cars by 2030, phasing out any vehicle in its global portfolio with an internal combustion engine, including hybrids
Its decision builds on the expectation that legislation – as well as a rapid expansion of accessible, high-quality charging infrastructure – will accelerate consumer acceptance of fully electric cars.
The move comes with an increased focus on online sales and a more complete, attractive and transparent consumer offering. All fully electric models will be available online only.
Chief executive, Håkan Samuelsson, said: “To remain successful, we need profitable growth. So instead of investing in a shrinking business, we choose to invest in the future – electric and online.
“We are fully focused on becoming a leader in the fast-growing premium electric segment.”
Volvo launched its first fully electric car, the XC40 Recharge, in markets around the globe last year
In coming years it will roll out several additional electric models, and aims for 50% of its global sales to consist of fully electric cars, with the rest hybrids, by 2025.
“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, chief technology officer.
“We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030. It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change.”