News & Features

Volvo Abandons its Electric Vehicle Target

Posted in General News on Friday, September 6th, 2024

Volvo has abandoned its target to transition solely to EVs by 2030. The company has been vocal about its environmental efforts in the past, but Volvo has now joined Ford and a few other manufacturers in retracting these plans. Volvo now expects 90% of its cars to be either fully electric or plug-in hybrid by 2030. The Swedish company may also sell a small number of ‘mild hybrids’, which are vehicles with limited electrical assistance. Volvo’s Chief Executive, Jiman Rowan said “We are resolute in our belief that our future is electric. However, it is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds."