This major manufacturer is reportedly backtracking on electric vehicles!

After announcing that it would only produce 100% electric vehicles by 2030, this manufacturer seems to be backtracking. We explain everything here!

If the European Union has taken the decision to ban the sale of thermal cars in 2035some manufacturers have decided to bring forward this date. Indeed, Jaguar, Alfa Romeo or Opel aim to sell only electric cars before the year 2030. But you also have Volvo which has the same goal. Only, it seems that the Swedish brand wants to go back.
Jim Rowan, head of the brand, said “it will take time to bring the different parts of the world together for full electrification”. A surprising statement when you consider the words of the commercial director and deputy director of the brand, Björn Annwall, a few months ago, in our colleagues d’Automotive News EuropeThe latter then confirmed Volvo’s ambitions by declaring “There will be no ifs, no buts.”
A step backwards therefore, due in particular to Electric car sales are running out of steam in many markets around the world.

Not very glorious sales volumes!

If sales of electric cars in the global market are still progressing at the beginning of 2024, this is mainly due to China. Indeed, in the middle country, the market share of electric car sales expected to reach 45% by 2024according to International Energy Agency (IEA). If EV sales continue at this rate in China, one in three vehicles rolling stock in the country will be electric by 2030according to the IEA.
It is a little more difficult, however, for the European and American markets. Indeed, the forecast is darker for both markets. The IEA predicts a market share of electric vehicles at 25% in Europe and to 11% in the United States. Sales are therefore struggling to take off.
This is also the case at Volvo. If the arrival of the small electric SUV the EX30 boosted Volvo sales in Europebrand sales collapsed in the United States and fail to take off in Chine. A situation that has pushed Volvo to review your goals in the future.

For now, we don’t have a new schedule from the Swedish brand. Volvo seems to be focusing again on hybrid engines. Jim Rowan says hybrid cars “provide a strong bridge for our customers who are not ready to make the switch to full electrification.”