Volvo Cars 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.
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 fully electric models will be available online only.
The company launched its first fully electric car, the XC40 Recharge, in markets around the globe in 2020. It’s set to reveal its second fully electric car, a new model in the 40 Series.
Already by 2025, it aims for 50 per cent of its global sales to consist of fully electric cars, with the rest hybrids.
Håkan Samuelsson, chief executive, says: “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, adds: “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.”
“The future of Volvo Cars is defined by three pillars: electric, online and growth,” says Lex Kerssemakers, head of global commercial operations. “We want to offer our customers peace of mind and a care-free way of having a Volvo, by taking away complexity while getting and driving the car. Simplification and convenience are key to everything we do.”
Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.
Keyword: Volvo Cars Commits to Becoming Fully Electric And Online Only by 2030