Volvo Cars to be fully electric by 2030

Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and 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.

The company’s transition towards becoming a fully electric car maker is part of its ambitious climate plan, which seeks to consistently reduce the life cycle carbon footprint per car through concrete action.

Sponsor

Its decision also builds on the expectation that legislation as well as a rapid expansion of accessible high quality charging infrastructure will accelerate consumer acceptance of fully electric cars.

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 2030 ambition represents an acceleration of Volvo Cars’ electrification strategy, 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.

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

Volvo Cars launched its first fully electric car, the XC40 Recharge, in markets around the globe last year. Later today the company will reveal its second fully electric car, a new model in the 40 Series.

In coming years Volvo Cars will roll out several additional electric models, with more to follow. Already by 2025, it aims for 50 per cent of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.

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

Additional News

About

Transcourt has been providing leasing and long term rental solutions demanded by the crude oil tanker industry for 20 years. – In both the United States and Canada, crude oil, petroleum products, and natural gas are transported truck trailers.

In both the United States and Canada, more crude oil, petroleum products, and natural gas are transported in pipelines than by all other modes combined, using the unit of ton-mile which is the number of tons shipped over number of mile. In the U.S., 70% of crude oil and petroleum products are shipped by pipeline. 23% of oil shipments are on tankers and barges over water. Trucking accounts for 4% of shipments, and rail 3%. In Canada, it’s even more lopsided. Almost all (97%) of natural gas and petroleum products are transported by pipelines. Truck trailers are increasingly used for short distance delivery to fill jobs and projects as the energy continues to expand in Canada and the US.