despite ev-only vow by 2030, volvo is quietly playing both sides by betting on dirty ices

By 2025, the Car Group aims to have 50 percent of its global sales contributed by battery EVs, while the remaining half contributed by hybrids. By 2030, Volvo wants to be an EV-only company.

The company has also made quite a few bold stands on EVs, including pulling itself out of the European Automobile Manufacturers Association (ACEA), because Volvo says the ACEA represents legacy automakers and many of its members are not showing enough commitment in transitioning to EVs. What a way to make friends right?

despite ev-only vow by 2030, volvo is quietly playing both sides by betting on dirty ices

Volvo Recharge concept points to the company’s EV future

Behind the bravado that is earning Volvo applause from EV blogs, Volvo is quietly building the foundation for a profitable business in internal combustion engines (ICEs), in case bold projections about EV adoption fail to materialize.

See, Volvo hasn’t, and is not exiting the combustion engine business. It merely transferred its assets in engine manufacturing to another company that it co-owns with .

Aurobay is Volvo’s appointed bad boy henchman to do its dirty work. Based on Skövde, Sweden, Aurobay is an hour’s drive away from Volvo Car’s headquarters in Gothenburg.

despite ev-only vow by 2030, volvo is quietly playing both sides by betting on dirty ices

With Aurobay, Volvo can be the green hero that EV fans and European Union bureaucrats are so eager to see, while still securing a back-up plan for its future in case this EV-only prediction of the future turns out to be hot air and gasp…. that has been right all along, that an EV-only solution is overly simplistic to meet the diverse needs of our complex world.

Volvo says the world must be committed to EVs but via Aurobay, Volvo is painting an alternative picture of the future.

Aurobay concedes that there are too many cars in the world that cannot be replaced with battery EVs and there is not enough clean electricity to charge them with.

“Hybrid engines have a future – and we’re continuing to develop them. Electrification is not the only answer to global warming,” said CEO Michael Fleiss in interview with a Swedish magazine in 2021.

despite ev-only vow by 2030, volvo is quietly playing both sides by betting on dirty ices

Engine manufacturing at Aurobay’s Skövde plant in Sweden

In fact, Aurobay says that even by 2040, more than 70 percent of all cars on the road worldwide will still have an engine, adding that unless governments of the world embark on a large-scale scrapping programme (unlikely), BEVs cannot make significant enough reduction in CO2 emissions.

This is why Aurobay is also investing into biofuel technology, adapting combustion engines to run on carbon neutral fuels.

“Now you can make ethanol without destroying harvests,’ he says. Hybrid engines will need to be powered by renewable fuels, instead of petrol and diesel,” said Fleiss, a former engineer at Volvo Cars and .

Volvo owns 33 percent of Aurobay (rest by Geely) but the company says it will divest from Aurobay as soon as the need for engines disappear, which is to say that Volvo will retain this backup plan until the world has sufficiently transitioned into EVs and there is no longer any need for ICEs.

despite ev-only vow by 2030, volvo is quietly playing both sides by betting on dirty ices

President ‘Morizo’ Toyoda

You could almost hear President Akio Toyoda say, “Hang on, Tesla fans gave me crap for saying exactly the same thing but when Volvo says the same using someone else’s mouth, it’s OK?”

Toyota is developing a retrofit kit that can convert existing cars on the road to burn hydrogen or synthetic fuels. This way, CO2 emission can be cut a lot faster, instead of trying to convince everyone to replace their old cars with an EV that can’t do as much as their previous combustion engine cars.

President Toyoda says Japan has 78 million cars on the road, selling 5 million new cars annually. It would take at least 15 years to replace all these with BEVs but of course not everyone is going to buy a BEV as their next car, so realistically speaking, it would take easily 30 years to replace all cars with fully electric ones, so how is this the only acceptable solution to an urgent climate crisis?

despite ev-only vow by 2030, volvo is quietly playing both sides by betting on dirty ices

Aurobay is now promoting its expertise and services to other carmakers who want to focus their resources on developing EVs, but at the same time can’t quite ditch combustion engines yet.

The company is rumoured to be in talks with , which had recently signed an

The company is pitching to other car makers to pool their resources and consolidate their non-electric drivetrain assets.

“Combining different assets “would absolutely make sense economically — it’s quite an expensive product,” said Fleiss in an interview with Bloomberg.

Aurobay believes that as others exit the supposedly dirty engines business, there will be a gap in demand and possibly a very big business opportunity.

As Volvo phases out combustion engine models, Aurobay is now offering a range of Volvo 3- and 4-cylinder engines with various states of electrificaiton – from mild to full to plug-in hybrid – to other car makers.

despite ev-only vow by 2030, volvo is quietly playing both sides by betting on dirty ices

Three Volvo- / CEVT-developed engines are now available for other companies to buy

The company is also considering an IPO but has yet to give a timeline for its listing. CEO Fleiss said a surprising number of investors have reached out to him with options to buy the company.

“These investors see there is a big business still to make, and quite some revenue to be done before this technology dies out,” he said.

This might sound counterintuitive given Tesla’s valuation but remember that Warren Buffet has since cashed out his investments from Chinese EV battery-leader BYD, and is increasing his positions on oil stocks, especially Occidental Petroleum.

Keyword: Despite EV-only vow by 2030, Volvo is quietly playing both sides by betting on dirty ICEs

CAR'S NEWS RELATED

How much are monthly repayments on a new Volvo C40 Recharge?

So, you've decided to embrace a fully electric life? The Volvo C40 Recharge is one of our favourite EVs, but these cars don't come cheap. We've done the math to find out how much you'll be paying for this privilege every month. The Volvo C40 Recharge (Read our First Drive ...

View more: How much are monthly repayments on a new Volvo C40 Recharge?

How do I connect my Android phone to my Volvo C40 Recharge?

The Volvo C40 Recharge is one of the latest creations from Volvo as part of their electric vehicle rollout. Tech filled and modern is part of the C40's spec sheet but how do you connect your Android phone to the vehicle's infotainment system? The Volvo C40 Recharge forms part of ...

View more: How do I connect my Android phone to my Volvo C40 Recharge?

At $3,600, Is This 1996 Volvo 850 GLT An Estate That Will Sell?

Photo: Craigslist The seller of today’s Nice Price or No Dice Volvo wagon touts its supposedly solid nature but confuses the gross weight for its curb weight, saying it’s “almost 5,000 pounds.” Let’s see if they’ve been more accurate in setting a solid price. The 1970 MGB SVO we ...

View more: At $3,600, Is This 1996 Volvo 850 GLT An Estate That Will Sell?

Volvo Cars shares drop to record low as Geely trims stake

Companies Volvo Personvagnar AB BNP Paribas SA Geely Automobile Holdings Ltd OSLO, Nov 17 (Reuters) – Shares of Swedish automaker Volvo Cars (VOLCARb.ST) fell as much as 14% to a record low on Friday after its majority shareholder, China's Geely (0175.HK), sold a small part of its stake at ...

View more: Volvo Cars shares drop to record low as Geely trims stake

How often should a Volvo C40 Recharge be serviced?

It is no secret that electric cars require less maintenance during their service intervals but what are those intervals actually? We checked with Volvo to see how often the incredible C40 Recharge needs to head to the workshop. Service charge Released in South Africa in June 2023, the Volvo C40 Recharge is ...

View more: How often should a Volvo C40 Recharge be serviced?

The Volvo 850 Was A Fast, Safe, And Comfy Box On Wheels

Back in the early 1990s, the car was Sweden's most expensive industrial project.

View more: The Volvo 850 Was A Fast, Safe, And Comfy Box On Wheels

Volvo CEO: Dropping Apple CarPlay Is the Wrong Approach

CEO Jim Rowan says CarPlay and Android Auto aren’t going anywhere.

View more: Volvo CEO: Dropping Apple CarPlay Is the Wrong Approach

2025 Volvo EM90 MPV Marks The Debut Of The First Volvo Minivan

Photo: Volvo Volvo released a fully-electric minivan called the EM90 in China on Monday, where the luxury MPV segment is hugely popular. The Volvo EM90 will be the Swedish automaker’s first minivan, and it just happens to be a rear wheel drive EV, though Volvo says the EM90 traces ...

View more: 2025 Volvo EM90 MPV Marks The Debut Of The First Volvo Minivan

How do I connect my iPhone to my Volvo C40 Recharge?

Volvo XC40 review

Volvo Reveals Battery-Electric EM90 Spaceship with 738km Range Figures

How The Volvo EX30's Minimalist Interface Feels To Operate

The Volvo EM90 Electric Minivan Might Be One Of The Quietest Cars In The World

Volvo officially releases the EM90, its first minivan with over 450 miles range

Is the Volvo C40 Recharge a 7-seater?

Volvo Unveils EM90 as The Firm’s First All-Electric MPV

Volvo EM90 Minivan Has a Screen That Folds Down From The Roof And Does Many Things

R2.1-million Volvo EM90 – A living room on the move

Volvo Unveils EM90 Premium MPV: A Fully Electric Sanctuary

Volvo EM90 Electric Minivan Has Rear-Wheel Drive And Illuminated Grille

OTHER CAR NEWS

; Top List in the World https://www.pinterest.com/newstopcar/pins/
Top Best Sushi Restaurants in SeoulTop Best Caribbean HoneymoonsTop Most Beautiful Islands in PeruTop Best Outdoor Grill BrandsTop Best Global Seafood RestaurantsTop Foods to Boost Your Immune SystemTop Best Foods to Fight HemorrhoidsTop Foods That Pack More Potassium Than a BananaTop Best Healthy Foods to Gain Weight FastTop Best Cosmetic Brands in the U.STop Best Destinations for Food Lovers in EuropeTop Best Foods High in Vitamin ATop Best Foods to Lower Your Blood SugarTop Best Things to Do in LouisianaTop Best Cities to Visit in New YorkTop Best Makeup Addresses In PennsylvaniaTop Reasons to Visit NorwayTop Most Beautiful Islands In The WorldTop Best Law Universities in the WorldTop Richest Sportsmen In The WorldTop Biggest Aquariums In The WorldTop Best Peruvian Restaurants In MiamiTop Best Road Trips From MiamiTop Best Places to Visit in MarylandTop Best Places to Visit in North CarolinaTop Best Electric Cars For KidsTop Best Swedish Brands in The USTop Best Skincare Brands in AmericaTop Best American Lipstick BrandsTop Michelin-starred Restaurants in MiamiTop Best Secluded Getaways From MiamiTop Best Things To Do On A Rainy Day In MiamiTop Most Instagrammable Places In MiamiTop Interesting Facts about FlorenceTop Facts About The First Roman Emperor - AugustusTop Best Japanese FoodsTop Most Beautiful Historical Sites in IsraelTop Best Places To Visit In Holy SeeTop Best Hawaiian IslandsTop Reasons to Visit PortugalTop Best Hotels In L.A. With Free Wi-FiTop Best Scenic Drives in MiamiTop Best Vegan Restaurants in BerlinTop Most Interesting Attractions In WalesTop Health Benefits of a Vegan DietTop Best Thai Restaurant in Las VegasTop Most Beautiful Forests in SwitzerlandTop Best Global Universities in GermanyTop Most Beautiful Lakes in GuyanaTop Best Things To Do in IdahoTop Things to Know Before Traveling to North MacedoniaTop Best German Sunglasses BrandsTop Highest Mountains In FranceTop Biggest Hydroelectric Plants in AmericaTop Best Spa Hotels in NYCTop The World's Scariest BridgeTop Largest Hotels In AmericaTop Most Famous Festivals in JordanTop Best European Restaurants in MunichTop Best Japanese Hiking Boot BrandsTop Best Universities in PolandTop Best Tips for Surfing the Web Safely and AnonymouslyTop Most Valuable Football Clubs in EuropeTop Highest Mountains In ColombiaTop Real-Life Characters of Texas RisingTop Best Beaches in GuatelamaTop Things About DR Congo You Should KnowTop Best Korean Reality & Variety ShowsTop Best RockstarsTop Most Beautiful Waterfalls in GermanyTop Best Fountain Pen Ink BrandsTop Best European Restaurants in ChicagoTop Best Fighter Jets in the WorldTop Best Three-Wheel MotorcyclesTop Most Beautiful Lakes in ManitobaTop Best Dive Sites in VenezuelaTop Best Websites For Art StudentsTop Best Japanese Instant Noodle BrandsTop Best Comedy Manhwa (Webtoons)Top Best Japanese Sunglasses BrandsTop Most Expensive Air Jordan SneakersTop Health Benefits of CucumberTop Famous Universities in SwedenTop Most Popular Films Starring Jo Jung-sukTop Interesting Facts about CougarsTop Best Hospitals for Hip Replacement in the USATop Most Expensive DefendersTop Health Benefits of GooseberriesTop Health Benefits of ParsnipsTop Best Foods and Drinks in LondonTop Health Benefits of Rosehip TeaTop Best Air Fryers for Low-fat CookingTop Most Asked Teacher Interview Questions with AnswersTop Best Shopping Malls in ZurichTop The Most Beautiful Botanical Gardens In L.A.Top Best Mexican Restaurants in Miami for Carb-loading rightTop Best Energy Companies in GermanyTop Best Garage HeatersTop Largest Banks in IrelandTop Leading Provider - Audit and Assurance In The USTop Best Jewelry Brands in IndiaTop Prettiest Streets in the UKTop Best Lakes to Visit in TunisiaTop Highest Mountains in Israel