Volvo Cars to Be Fully Electric by 2030 and Sold Exclusively Onlineby Fintechnews Baltic March 3, 2021
Volvo Cars plans to to become a fully electric car company by 2030 and sell them exclusively online by then.
The company intends to only sell fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids.
The company’s transition towards becoming a fully electric car maker is part of its climate plan, which seeks to consistently reduce the life cycle carbon footprint per car through concrete action.
Its decision also 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.
Volvo Cars launched its first fully electric car, the XC40 Recharge, in markets around the globe last year. The company will also reveal its second fully electric car, a new model in the 40 Series.
In coming years Volvo Cars will roll out several additional electric models, with more to follow. Already by 2025, it aims for 50 percent of its global sales to consist of fully electric cars, with the rest hybrids.
“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.”
said Håkan Samuelsson, Chief Executive of Volvo.
“There is no long-term future for cars with an internal combustion engine. 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.”
said Henrik Green, Chief Technology Officer of Volvo.
Featured image: Volvo Cars