All Volvo Vehicles Will Be Electric by 2030
The appeal of electric cars keeps growing — and Volvo is pledging to meet the demand.
The car company Volvo announced on Tuesday that it intends to become a fully electric car company by the year 2030. This means that by the end of the decade, the company intends to phase out cars that use a combustible engine, including hybrids, according to a statement by the company.
"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, in a statement. "We are fully focused on becoming a leader in the fast-growing premium electric segment."
There is a growing need and demand for electric cars due to an increased awareness and concern over climate change. Traditional gasoline-powered vehicles typically emit 4.6 metric tons of carbon dioxide per year, according to the EPA, which has a considerable impact on the planet.
The statement by Volvo says that the company is also committed to fighting climate change and reducing the carbon footprint of its cars. The first electric car released by the company was the XC40 Recharge, which hit the market last year. In addition to becoming fully electric by the decade's end, the company plans to roll out many more electric models, aiming for at least 50 percent of global sales to be from these new vehicles by 2025. All of these models will be sold primarily, or entirely, online, according to the company statement.
There is no long-term future for cars with an internal combustion engine," said Henrik Green, chief technology officer, in a statement. "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."
Andrea Romano is a freelance writer in New York City. Follow her on Twitter @theandrearomano.