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Volvo to Go Electric-Only And Shift Sales Online From 2030

(Bloomberg) Volvo Cars set an ambitious goal to only sell battery cars by 2030, accelerating its plans after sales of electric vehicles surged.The Chinese-owned Swedish brand is rolling out a new lineup of electric cars and unveiled its second battery-only model, the C40 Recharge, on Tuesday. Going one step further than recent rivals’ decisions on EVs, Volvo’s electric vehicles will be available for sale only online, the company said in a statement.“Going electric will strengthen our brand, it means going into a growing segment,” Chief Executive Officer Hakan Samuelsson said in an interview. “Combustion cars are a shrinking segment.”Volvo’s move follows rivals including Jaguar Land Rover, General Motors Co. and Volkswagen AG announcing plans to electrify their offerings. In addition to tough emissions regulation, incredible valuations garnered by EV-only newcomers have been a wakeup call to accelerate the pace of change to survive indu

Volvo Cars path to an all-electric future just got bigger, bolder and better

Volvo Cars path to an all-electric future just got bigger, bolder and better
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