Volvo has announced a big change to its electrification plans. Volvo had already announced plans to have a full EV lineup by 2030, but now those plans have changed.
Due to market changes, basically slow EV sales, Volvo has decided to keep its plug-in hybrid and hybrid models around longer than originally planned. By 2030 Volvo now wants 90-100 percent of its sales to be fully electric and plug-in hybrid models. The remaining 0-10 percent will be a limited number of hybrid models.
Volvo expects that by 2025 between 50-60 percent of its sales will EVs and plug-in hybrids. In the second quarter of 2024, those models accounted for 48 percent of Volvo’s sales.
Volvo will have a complete lineup of fully electric cars available by the end of the decade, so it can easily switch to only offering EVs when the market is ready for it.
The post Volvo rolls back its EV plans appeared first on The Torque Report.
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