Volvo CEO: Pandemic will rapidly accelerate shift to electric cars

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Volvo CEO Håkan Samuelsson said that the coronavirus will accelerate the pace of change in the auto industry. He said the shift to EVs will be among the major changes that occur due to the pandemic.

Speaking at a Financial Times global digital conference, Samuelsson said:

Electrification will go faster. I think it would be naive to believe after some months, everything will return to normal, and our customers will come back into a showroom asking for diesel cars. They will ask even more for electric cars. And that is speeding up.

Moreover, he believes that any government efforts to subsidize the auto industry’s recovery should be based on supporting EVs and other new technology.

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