Volvo announced that it has changed its strategy to electrify its car range. Accordingly, it stated that it has scaled back its goal of selling only electric vehicles by 2030. The Swedish automaker will devote 10 percent of sales to plug-in hybrids over the next decade.
Volvo abandons plan to go all-electric by 2030
Volvo has previously announced that it will have an electric range by 2030. However, instead of switching completely to electric, it will also focus on hybrid models. The main reason for this decision was the slowdown in demand for electric vehicles.
Volvo expects 50-60 percent of sales to come from electric vehicles and hybrids by 2025. On the other hand, company CEO Jim Rowan admitted that the transition to electricity will not be direct and stated that the company will adapt to changing market conditions across regions.
Volvo, which stands out especially with its S60 and S90 sedan models and has an audience in the SUV class, stated that sedan production takes place in China. It announced that it will no longer bring its sedan models to Turkey due to the 40 percent additional tax announced in recent months for cars from China.
Volvo thinks that plug-in hybrid models will play a critical role in the future. In this context, the company, which plans to develop the XC90 hybrid SUV model, stated that it will deliver the new model in 2024.
With this move, Volvo is actually following other automakers. Previously, brands such as Ford, Volkswagen and Hyundai had also decided to postpone their plans to switch to electricity.
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