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Niklas Morberg
Volvo Cars will continue to be the top player in electrification, but will adjust its ambitions in this area because of evolving market conditions and customer needs, the company said.
The company still aims for the same long-term goal, with the transition to only electric vehicles being an important part of Volvo Cars' product strategy. The car manufacturer also aims to reach zero emissions of greenhouse gases by the year 2040.
The company's goal is to have 90-100% of its sales generated from electric and hybrid cars by 2030. The remaining vehicles will be known as "mild hybrids," which consist of an internal combustion engine and a small electric motor.
It is predicted that by 2025, electric vehicles will make up approximately 50% to 60% of all cars on the road.
By the time this decade concludes, Volvo Cars will offer a complete range of electric vehicles. According to the press release, Volvo Cars will be able to transition to complete electrification when the market conditions are favorable.
source: bloomberg.com
The company still aims for the same long-term goal, with the transition to only electric vehicles being an important part of Volvo Cars' product strategy. The car manufacturer also aims to reach zero emissions of greenhouse gases by the year 2040.
The company's goal is to have 90-100% of its sales generated from electric and hybrid cars by 2030. The remaining vehicles will be known as "mild hybrids," which consist of an internal combustion engine and a small electric motor.
It is predicted that by 2025, electric vehicles will make up approximately 50% to 60% of all cars on the road.
By the time this decade concludes, Volvo Cars will offer a complete range of electric vehicles. According to the press release, Volvo Cars will be able to transition to complete electrification when the market conditions are favorable.
source: bloomberg.com
