Volvo has announced plans to become a fully electric car company by 2030. By then, the Swedish automaker intends to only sell fully electric vehicles and phase out any model in its global portfolio with an internal combustion engine, including hybrids. However, the dealerships should remain operating in Canada.
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.
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Volvo’s move towards full electrification comes together with an increased focus on online sales and a more complete consumer offer under the name Care by Volvo. As a matter of fact, all fully electric models will be available online exclusively, which means Volvo dealerships will be no more by the end of the decade. Think about that.
The 2030 ambition represents an acceleration of Volvo’s 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 Volvo CEO Håkan Samuelsson. “We are fully focused on becoming a leader in the fast-growing premium electric segment.”
Volvo launched its first fully electric vehicle, the XC40 Recharge, in markets around the globe last year. Don’t miss our other story presenting the all-new C40 Recharge, a coupe-like crossover that was revealed today.