Volvo has backtracked on its plan to go electric car only by 2030, citing “changing market conditions and customer demands” as a reason. It now says it is aiming for “90 to 100 per cent” of its cars sold at the turn of the decade to be electrified – a mix of plug-in hybrid and full EV.
That leaves scope for up to 10 per cent of Volvo’s volume to be made up of mild-hybrid models. The Swedish maker has not given a revised date for when it’ll build its last combustion-engined car.
According to a release published this week, Volvo “continues to see the need for stronger and more stable government policies to support the transition to electrification.”
CEO Jim Rowan followed this, saying: “The transition to electrification will not be linear, and customers and markets are moving at different speeds of adoption. We are pragmatic and flexible, while retaining an industry-leading position on electrification and sustainability.”
Volvo reiterated its commitment to a fully electric future, saying electrification “remains a key pillar of Volvo Cars’ product strategy”, and that its “long-term investment plan remains geared towards fully electric cars”. As a business it aims to reach net zero by 2040.
Volvo claims that its global pure-EV mix during the second quarter of 2024 stood at 26 per cent, or 48 per cent if you include PHEVs. It expects 50 to 60 per cent of Volvo demand to be PHEV or EV by the end of next year.
Including the China-only EM90, Volvo now has five fully electric vehicles in its line-up. The EX30, EX40, EC40 and EX90 will be joined by the ES90 saloon and EX60 SUV within the next couple of years, with the possibility of an EV90 estate also on the cards.
Click here for our in-depth review of the new Volvo EX90…
