Volvo confirms 2030 EV goal

Volvo has confirmed plans to become a fully electric car company by 2030.

By then, the company intends to sell only fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids.

The company has already said it aims for 50% of its global sales to consist of fully electric cars by 2025, with the rest hybrids.

Håkan Samuelsson, chief executive, 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.”

Henrik Green, chief technology officer, 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.”