Volvo Cars has announced it plans to become a fully electric car brand by 2030, while also transitioning to an online sales strategy.
By that year, the company says it intends to “phase out any car in its global portfolio with an internal combustion engine, including hybrids”.
The Swedish firm’s move towards full electrification comes together with an increased focus on online sales. In fact, it says its fully electric models will be available “online only”. As part of its new strategy, Volvo Cars says it will “invest heavily” in its online sales channels, “radically reduce complexity” in its product offer and provide “transparent and set pricing” models.
“To remain successful, we need profitable growth. So instead of investing in a shrinking business, we choose to invest in the future – electric and online,” said Håkan Samuelsson, chief executive of Volvo Cars.
“We are fully focused on becoming a leader in the fast-growing premium electric segment.”
Volvo Cars launched its first fully electric car, the XC40 Recharge, in select markets in 2020 (with a local launch on the cards, too).
In the coming years, the automaker says it will roll out “several additional electric models”, with more to follow. By 2025, it aims for 50 percent of its global sales to comprise fully electric cars, with the rest hybrids.
“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, chief technology officer at Volvo Cars.
“We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030. 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.”