Swedish automaker Volvo Cars has scrapped its zero-emission target for 2030 as part of a business plan re-adjustment.
Instead the carmaker has promised to offer some hybrid models in its upcoming lineup for 2026.
“By 2030, (we) expect electrified cars to represent between 90-100 per cent of global sales volumes. The remaining 10 per cent will allow for a limited number of mild hybrid models to be sold, if needed,” said Volvo in an announcement on Thursday.
These adjusted electrification ambitions also lead to new CO2 reduction ambitions for the Geely-owned automaker.
Volvo Cars’ new targets now aim to reduce its CO2 footprint per car by 30-35 per cent by 2025 and 65-75 per cent by 2030.
Jim Rowan, CEO of Volvo Cars, commented on the modified targets:
“The sharpened business ambitions we announce today further reinforce our commitment to drive value as a business, while remaining true to our purpose. As I have said before: business is not a game of perfection, it’s about continuous progress and adaptation.”
Volvo previously promised to go fully-electric by 2030 after receiving a €420 million investment from the European Investment Bank.
