– Mar. 2nd 2021 5:52 am ET
The Swedish automaker Volvo announced today its plan to phase out internal combustion engine vehicles, including hybrids, and only sell all-electric cars by the end of the decade.
Several automakers are starting to announce aggressive phase-outs of their gas-powered vehicles.
Volvo has now added itself to that list with a strong announcement that it doesn’t believe in the internal combustion engine anymore:
Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and plans to become a fully electric car company by 2030. By then, the company intends to only sell fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids.
While several automakers have announced phase-outs of the internal combustion engine, this is one of the strongest announcements of its type since it doesn’t leave any room for hybrids or plug-in hybrids.
The move comes after several markets have started to indicate that they plan to ban the sale of new gasoline-powered vehicles around the 2030-2040 timeframe.
Volvo acknowledges that in its announcement.
With the new announcement, Volvo also said that it is shifting its sales of electric vehicles online instead of through dealerships.
Håkan Samuelsson, CEO of Volvo, commented:
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. We are fully focused on becoming a leader in the fast-growing premium electric segment.
Volvo chief technology officer Henrik Green 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.
The automaker has so far only one all-electric vehicle, the Volvo XC40 Recharge (pictured above), but it plans to add several more and released this image to represent to the product roadmap:
Volvo’s second fully electric car, a new model in the 40 Series, will be revealed later today.
Stay tuned for that. Electrek will have an article up about the new Volvo electric vehicle shortly.
FTC: We use income earning auto affiliate links. More.
Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.
You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews. Guides
About the Author
Fred is the Editor in Chief and Main Writer at Electrek.
You can send tips on Twitter (DMs open) or via email: firstname.lastname@example.org
Through Zalkon.com, you can check out Fred’s portfolio and get monthly green stock investment ideas.
Fred Lambert's favorite gear
Zalkon Green Stock Ideas
ChargePoint Home charger
ChargePoint Home WiFi Enabled Electric Vehicle (EV) Charger