Volvo has been promising for years that it will only sell electric cars after 2030. But the company now seems to be going back on that. Volvo’s CEO says he will continue to invest in hybrids, because he believes full electrification will take more time.
Last year, Volvo CEO Bjorn Annwall reiterated the company’s pledge to “not sell a single car” that wasn’t fully electric by 2030. But Volvo now appears to be having to change course, as the transition to electric driving slows down somewhat. Demand for EVs in key markets like the US and China has been disappointing lately.
Volvo CEO Jim Rowan acknowledges, according to Automotive News that ‘it will take time to bridge different parts of the world to full electrification’. According to the Volvo boss, hybrids are a ‘bridge for customers who are not yet ready for full electrification’. “Our plug-in hybrids and mild hybrids remain very strong and popular with our customers, and we will continue to invest in this line-up,” Rowan says.
Volvo dealers don’t just want EVs
A source familiar with Volvo’s plans told Automotive News that the company will continue to produce hybrids for at least another decade. A Volvo spokesperson explained that the company “remains convinced that electrification is the future,” but that the transition “will not be a linear development.” “We will continue to invest across the breadth of our product lineup.”
Several major Volvo dealers Automotive News spoke with say they expect to continue selling hybrids well into the 2030s. “We’re going to have to, or we’re going to go out of business,” one dealer said.
More car brands are focusing on hybrids
Several major automakers, including Ford, GM, Hyundai and Stellantis, have recently said they will push harder toward hybrids as a bridge to fully electric vehicles.
By the way, the global EV market is still growing, albeit more slowly than some had expected. More than 1 in 5 cars sold worldwide will be electric this year.
In the Netherlands, 31 percent of registered cars this year were fully electric. Hybrid cars accounted for a market share of 43 percent.
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Source: www.bright.nl
