Volvo Backtracks On 2030 EV-Only Pledge

Volvo now says it will push back its deadline to sell only electric vehicles by 2030, citing the need for stronger government support. “The new plans call for 90 to 100% of global sales to be electrified, including EVs and plug-in hybrids (PHEVs),” reports Electrek. “The other up to 10% will be “a limited number of hybrids” if needed. By 2025, Volvo expects 50 to 60% of sales to be electrified.” From the report: Volvo was one of the first automakers to set a 100% EV sales goal by 2030. The announcement was made over three years ago in March 2021. The plan was to sell only fully electric cars while phasing out “any car in its global portfolio with an internal combustion engine, including hybrids.” […]

Volvo has already launched five all-electric models: the EX40, EC40, EX30, EM90, and the EX90. After delivering its first model in January, the Volvo EX30 is already the third best-selling EV in Europe. Another five EVs are in development. However, Volvo said the shift comes as the charging infrastructure rollout has been out slower than expected, and government incentives have been withdrawn. Volvo is calling for stronger and more stable government policies to support the transition to EVs.

Volvo also adjusted its CO2 reduction goal. The company aims to reduce CO2 emissions per car by 65% to 75% by 2030 (using 2018 as a baseline). That’s down from the previous 75% reduction target. Next year, Volvo aims for a 30 to 35% reduction (with 2018 as a baseline), down from 40%. The company is still working with suppliers to cut CO2 emissions across its value chain. “We are resolute in our belief that our future is electric,” said Volvo Cars CEO Jim Rowan. “An electric car provides a superior driving experience.”

Despite this, “it is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds of adoption,” Rowan explained.