Over recent years more and more car manufactures have slowly made the transition into producing electric vehicles. The like of BMW, Ford and Volkswagen all have their own EV’s, and now it looks like Volvo is ready to join the party.
Volvo has announced its plans to become a fully electric car company by 2030. 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 hybrid vehicles. Volvo’s transition towards becoming a fully electric car maker is part of its ambitious 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 Newswire (@volvocarsnews) March 2, 2021
“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,” said Håkan Samuelsson, chief executive. “We are fully focused on becoming a leader in the fast-growing premium electric segment.”
In coming years Volvo will roll out several electric models, in addition to its first fully electric car, the XC40 Recharge, which launched last year, with more to follow. Already by 2025, it aims for 50% of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.
“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.”