Volvo dilutes 100% EV by 2030 strategy to include hybrids

Volvo Cars has become the latest automaker to adjust its electrification strategy as unfavourable market conditions prolong the shift to electric vehicles (EVs) beyond prior expectations. On 4 September 2024, the company announced that it will aim for 90-100% of its sales mix to be pure EVs by 2030, a potential reduction of up to 10% from its original goal.

“We are resolute in our belief that our future is electric,” stated Chief Executive Jim Rowan. “An electric car provides a superior driving experience and increases possibilities for using advanced technologies that improve the overall customer experience.” The company’s EV range currently has five models, including the best-selling EX30. Nevertheless, he considers the journey towards EVs as increasingly non-linear and that the automaker’s decision is a “pragmatic and flexible” reaction to consumer realities.