Volvo to go fully electric by 2030

Volvois committed to making its entire model range fully electric by 2030 and accelerating its plan to phase out internal combustion engine cars - and will also promote sales of all its EV models online.The announcementfollows Volvo's launch of its second electric car later today (Tuesday).

The Swedish company, which is owned by China's Geely Group, pledged in 2019 to become a pure electric vehicle brand within 20 years, and company boss Hakan Samuelsson said at the time that customer demand would determine the exact timeline.That includes a goal to power half of its sales of electric vehicles by 2025, with the rest plug-in hybrids.

Volvo's goal of being fullyelectrifiedwithin nine years marks an acceleration in that goal.The company said this was due to strong early demand for its first electric vehicle, the XC40 Recharge P8, and expectations that legislation and expansion of charging infrastructure will increase customer demand for electric vehicles.The UK, for example, has pledged to ban the sale of almost all non-zero-emission new cars from 2030.

“To remain successful, we need profitable growth. So instead of investing in shrinking businesses – electrical and online, we chose to invest in the future,” Samuelsson said."We are fully focused on being a leader in the fast-growing high-end electrical segment."

Henrik Green, Volvo's chief technology officer, added: "Cars with internal combustion engines don't have a long-term future."

Volvo has already taken steps towards an all-electric transition, including merging its internal combustion engine plans with sister company Geely's and spinning it off into a separate company.

Volvo launched its first electric car, the XC40 Recharge P8, in late 2019, and customer deliveries have begun in the UK.It will unveil its second EV later today, described as a "new model in the 40-series."

Volvo has released a chart showing its "mid-decade electric portfolio", which confirms Volvo's aim to offer seven full electric vehicles by then, including the XC40 Recharge and a new 40-series model.The company is also working on a small model based on Geely's new SEA electrical architecture, which will sit below the 40-series model and possibly the 20-series.

The company has also confirmed that it will launch an all-electric version of the next-generation XC90 next year, and will likely develop an electric version of the XC60 as well.

Volvo to switch to online sales of pure electric cars

Volvo will only sell its new range of electric vehicles online, part of a series of steps the company says will simplify its sales model.