Volvo’s entire line-up will be fully electric by 2030 as it phases out all cars with internal combustion engines, including hybrids, it said today.
The Chinese-owned Swedish company followed the likes of Ford and Jaguar Land Rover in recent weeks, in outlining plans to ditch petrol and diesel engines by the end of this decade.
The strategy also includes selling its pure-electric models exclusively online in the next few years – an announcement that comes hours before the brand reveals a new zero-emission car later today.
Håkan Samuelsson, Volvo’s chief executive, said this morning: ‘I am totally convinced there will be no customers who really want to stay with a petrol engine. We are convinced that an electric car is more attractive for customers.’
Volvo to be all-electric by 2030: The Swedish car brand has today outlined its plans to accelerate the phases out of internal combustion engines, including hybrids
The Swedish carmaker, which is owned by Hangzhou-based Zhejiang Geely Holding Group, said 50 per cent of its global sales should be fully-electric cars by 2025 and the other half hybrid models.
This will mean an injection of new zero-emission models in the next four years, with a second all-electric model being unveiled this afternoon.
Samuelsson said Volvo will be taking a leaf out of Tesla’s successful book by selling battery electric vehicles with software that allows for wireless upgrades and fixes remotely.
‘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 Samuelsson.
‘We are fully focused on becoming a leader in the fast-growing premium electric segment.’
Henrik Green, chief technology officer at Volvo, added: ‘There is no long-term future for cars with an internal combustion engine.
‘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.’
Volvo made the announcement on Tuesday morning, just hours ahead of the brand revealing its second all-electric model – a sister car to the XC40 Recharge (pictured)
Håkan Samuelsson, Volvo’s chief executive, said this morning the he is ‘totally convinced there will be no customers who really want to stay with a petrol engine’
Car makers are racing to switch to zero-emission models as they face CO2 emissions targets in Europe and China, plus looming bans in some countries on fossil fuel vehicles.
Jaguar Land Rover, owned by Indian group Tata Motors, also said in February that Jaguar will become an all-electric luxury brand by 2025 and the carmaker will launch electric models of its entire line-up by 2030.
Volvo’s announcement also follows General Motors’ pledge earlier this year to make only battery-powered vehicles by 2035.
And it’s not just mainstream brands that are making the switch. Luxury carmaker Bentley, owned by Germany’s Volkswagen, said in November that its models will be all electric by 2030.
Electrification is expensive for car makers and as electric vehicles have fewer moving parts, employment in the auto industry is expected to shrink.
Last week, the head of Daimler AG’s truck division said going electric will cost thousands of jobs in the company’s powertrain plants in Germany.
Following in the footsteps of Tesla, all electric Volvos will have software that allows for over-the-air updates to upgrade packages and fix issues
All electric Volvos will soon be purchased exclusively online in the next few years, it said
Volvo plans to invest heavily in online sales channels as it looks to simplify the availability of trim levels and also accelerate the delivery process
Volvo said it will invest heavily in online sales channels to ‘radically reduce’ the complexity of its model line-up and provide customers with transparent pricing.
The carmaker’s global network of 2,400 traditional bricks-and-mortar dealers will remain open to service vehicles and to help customers make online orders.
All purchases will be made exclusively via its website so that customers will be able to choose from a simplified range of pre-configured electric Volvos for quick delivery – but they will still be able to order custom-made models.
‘The future of Volvo Cars is defined by three pillars: electric, online and growth,’ says Lex Kerssemakers, head of global commercial operations at Volvo Cars.
‘We want to offer our customers peace of mind and a care-free way of having a Volvo, by taking away complexity while getting and driving the car. Simplification and convenience are key to everything we do.’
Demand for pure-electric vehicle jumped 186 per cent in 2020, with 108,205 registrations of battery-powered cars during the year. It means that 6.6 per cent of all new models bought in the UK are electric – up from 1.6 per cent in 2019.
In January, 6.9 per cent of all new cars bought were electric, industry figures show.
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