Volvo has become the latest global manufacturer to go all-electric by the end of the decade, the firm has announced.
By 2030, the company intends to sell only 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 strategy, which seeks to reduce the lifecycle carbon footprint per car.
Volvo Cars launched its first fully electric car, the XC40 Recharge, last year and has now also launched its second fully electric car, a new model in the 40 series (see picture).
In the coming years, Volvo Cars will roll out several additional electric models. By 2025, it aims for 50% of its global sales to consist of fully electric cars, with the remainder hybrids. By 2030, every car it sells should be fully electric.
The decision, which accelerates its current move to EVs, builds on the rapid expansion of accessible high-quality charging infrastructure and a legislative framework, including the UK government’s policy to ban the sale of ICE vehicles by 2030, that will accelerate the move to pure electric cars.
Chief executive of Volvo Cars, Hakan 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.”
“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.”