Volvo set to become fully electric car producer
Swedish auto giant chose to investing in future instead of shrinking business, says CEO
ISTANBUL
Sweden's automotive giant Volvo is preparing to produce only electric cars as of 2030, as part of its climate plan to reduce carbon emissions, according to a press release issued Tuesday.
"The company intends to only sell fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids," the press release said.
Volvo also said it expects accelerated efforts for an accessible, quality charging infrastructure.
CEO Hakan Samuelsson said to ensure profitable growth, Volvo chose to invest in future technologies instead of shrinking fields.
“We are fully focused on becoming a leader in the fast-growing premium electric segment," he added.
The company's first fully electric vehicle, the XC40 Recharge SUV, was launched last year.
The firm aims for 50% of its global vehicle sales to consist of fully electric cars as of 2025.
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