Volvo to become EV only car brand by 2030

Volvo has outlined its plans to become a fully electric car company by 2030 and will launch a completely new family of electric cars in the coming years.

It intends to sell only fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids, within nine years.

Already by 2025, Volvo aims for 50% of its global sales to consist of fully electric cars, with the rest hybrids.

The Swedish car maker expects that legislation as well as a rapid expansion of accessible high-quality charging infrastructure will accelerate consumer acceptance of fully electric cars.

“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 of Volvo Cars. “We are fully focused on becoming a leader in the fast-growing premium electric segment.”

Volvo recently launched its first fully electric car, the XC40 Recharge and later today, it will reveal its second fully electric car, a new model in the 40 series.

“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, chief technology officer at Volvo Cars. “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.”

Jaguar committed to becoming an electric-only car brand by 2025, five years ahead of the Governments planned ban on the sale of new petrol and diesel cars without a significant zero-emission range.