Volvo Cars to be Fully Electric by 2030
Volvo announces a huge step towards a green automotive future.
After a successful financial year in 2020, Volvo commits to become a fully electric car company by 2030.
By The Editors
Tue, Mar 2, 2021 08:44 AM PST
Volvo Cars have been steadily gaining traction over the years, producing excellent and highly modern vehicles. Their cars have a reputation of being safe, beautiful, and luxurious.
Now, Volvo has announced that the company will be a fully electric car company by 2030, riding the wave of electric efforts spreading throughout the automotive industry.
Volvo intends to phase out any car in its global portfolio that runs on even a sniff of fossil fuels, including hybrids, by 2030. After that, they will only sell full electric vehicles.
The company’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’ move towards full electrification comes together with an increased focus on online sales and a more complete, attractive and transparent consumer offer under the name Care by Volvo. All fully electric models will be available online only.
The 2030 ambition represents an acceleration of Volvo Cars’ electrification strategy, driven by strong demand for its electrified cars in recent years and a firm conviction that the market for combustion engine cars is a shrinking one.
“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.”
Volvo Cars launched its first fully electric car, the XC40 Recharge, in markets around the globe last year. Later today the company will 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 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.
“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.”