2:59 pm, September 4, 2024
Volvo announced today that it has ditched its target of only selling cars that are fully electric by 2030.
The Swedish manufacturer said it was now aiming for 90-100% of its global sales to be either pure electric or plug-in hybrid by then.
It added that this’ll ‘allow for a limited number of mild-hybrid models to be sold, if needed’.
Volvo said in 2021 that its aim was for all its cars to be pure electric by 2030.
The company, which is majority-owned by Geely, said the policy change was because of a ‘slower than expected’ rollout of charging infrastructure, the withdrawal of government incentives in some markets as well as ‘additional uncertainties’ created by recent tariffs on EVs.
Volvo Cars chief executive Jim Rowan commented: ‘We are resolute in our belief that our future is electric.
‘An electric car provides a superior driving experience and increases possibilities for using advanced technologies that improve the overall customer experience.
‘However, it is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds of adoption.
‘We are pragmatic and flexible, while retaining an industry-leading position on electrification and sustainability.’
