Volvo Cars Group increases stake in EV maker Polestar to nearly 50% topnews.us - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from topnews.us Daily Mail and Mail on Sunday newspapers.
Volvo cars to make only electric vehicles by 2030 ― Official
On
Kindly Share This Story:
China-owned Volvo Cars said on Tuesday it plans to only sell fully electric cars as of 2030, seeking to cash in on the premium electric market, the fastest-growing segment in the global market.
All models with an internal combustion engine, including hybrids, would be phased out, the Swedish carmaker said.
“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, chief technology officer.
The 2030 target was “driven by strong demand for its electrified cars in recent years and a firm conviction that the market for combustion engine cars is a shrinking one.”