Volvo has pledged to become a fully electric car company by 2030 and by that date plans to phase out cars with internal combustion engines, including hybrids, from its global portfolio.
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.
“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, Chief Technology Officer at Volvo Cars. “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.”
Volvo’s move towards full electrification comes with an increased focus on online sales and a refocused consumer offer under the name Care by Volvo. Fully electric models will be available online only.
“Instead of investing in a shrinking business, we choose to invest in the future – electric and online,” said Håkan Samuelsson, Chief Executive of Volvo Cars. “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, last year. By 2025, it aims for 50 per cent of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.