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Volvo To Produce Only Electric Cars From 2030

The Swedish car manufacturer, Volvo on Tuesday announced that it will not produce fuel-powered vehicles from 2030 but produce only electric cars.

The company’s chief executive officer, Hakan Samuelsson, said the company is seeking to invest in the future and quit the “shrinking business” of combustion car engines.

All models with an internal combustion engine, including hybrids, would be phased out, 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,” he said.

Henrik Green, Volvo’s chief technology officer, explained that the 2030 target is 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”.

“There is no long-term future for cars with an internal combustion engine,” Green said.

“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.”

In November, UK Prime Minister Boris Johnson said new cars and vans powered by petrol and diesel will not be sold in the UK from 2030.

Johnson said it is part of “a green industrial revolution” to tackle climate change and to create jobs.

In 2020, Volvo launched the XC40 Recharge, its first fully electric car.


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