Volvo going fully electric by 2030
Not too long ago, the majority of cars being sold by Volvo were powered by diesel engines, and their EV models were almost nonexistent. But now that they are going full-scale towards electrification, that trend has changed.
Volvo has announced it will stop producing diesel-powered vehicles as early as next year, keeping up with the rapid change that's happening both in the automotive industry and consumer demand.
Currently, the majority of Volvo's vehicles are now either plug-in hybrid or fully electric. This is part of the brand's plan to offer a pure EV lineup by 2030 while going towards becoming a climate-neutral company by 2040.
Late last year, Volvo sold its stake in its joint venture that does the R&D of their ICEs, which means the brand is no longer spending its budget on developing new gasoline or diesel engines.
“Electric powertrains are our future, and superior to combustion engines: they generate less noise, less vibration, less servicing costs for our customers and zero tailpipe emissions. We’re fully focused on creating a broad portfolio of premium, fully electric cars that deliver on everything our customers expect from a Volvo - and are a key part of our response to climate change” said Jim Rowan, Chief Executive at Volvo Cars.