Volvo Cars have just announced they’re committed to becoming a leader in the premium electric car market and 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 hybrids.
The company’s transition towards becoming a fully electric car maker is part of its ambitious climate plan. This 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 of the brand’s fully-electric models will be available online only.
The 2030 ambition represents an acceleration of Volvo Cars’ electrification strategy. This has been 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.
Håkan Samuelsson, Volvo Cars CEO, 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.”
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 percent of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.
Henrik Green, Volvo Cars CTO, said: “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.”
This news comes after several other big car brands, including Ford, Jaguar, Land Rover and Volkswagen, announced recently they’re going fully electric by 2030 or sooner. This is great news for the electric car market, the industry, and most importantly, moving towards a more sustainable future for a cleaner planet.