Volvo launched its first fully electric car on Tuesday.
- Volvo announced on Tuesday that it would go fully electric by 2030 and 50% electric by 2025.
- To celebrate the plan, the company also launched the C40 Recharge, its first fully electric car.
- “There is no long-term future for cars with an internal combustion engine,” said CTO Henrik Green.
Volvo announced on Tuesday that it would become a “fully electric” manufacturer by 2030.
The Swedish company plans to launch a series of electric vehicles over the coming years but they will only be available for purchase online.
“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, Volvo’s chief technology officer, according to the Associated Press.
The company aims to focus on the fastest-growing area of the automobile industry — high-end electric cars. By 2025, it expects 50% of sales to be electric cars and the remainder to be hybrids. By 2030, it expects to only sell electric cars.
“We are firmly committed to becoming an electric-only car maker,” Green said. “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.”
To commemorate the commitment, Volvo launched its second electric car on Tuesday.
The C40 Recharge is the first wholly electric car produced by the manufacturer and will go into production this fall.
Europe became the leading market for electric cars in 2020 with 1.395 million units sold, up 137% and ahead of China’s 1.337 million. However, sales are pushed forward by generous state subsidies.
The move for Volvo comes after CEO Hakan Samuelsson said in December that he “would be surprised if we wouldn’t deliver only electric cars from 2030.”
Volvo merged with its Chinese owner Geely last year and the two companies will now strengthen their collaboration, sharing engine research to create new hybrid systems, car-sharing platforms, or to work on electric and autonomous driving technologies.
Other car manufacturers including Toyota and Ford are also taking the plunge and going electric. Toyota plans to launch fully electric cars this year while Ford also aims to be fully electric by 2030.
According to the Associated Press, less than 2% of car sales in the US last year were made up of electric cars.