Volvo has always been very determined in pursuing its ambitious electrification plan. As we know, in the past the carmaker has stated that it wants to become a pure electric vehicle brand by 2030. However, recently we have seen that BEV market not growing as expectedso much so that several manufacturers have had to reconsider their electrification projects.
Given the current market situation, Volvo also decided to review its strategy.abandoning its goal of becoming an all-electric brand by 2030.
Obviously Volvo remains committed to realizing its electrification ambitions. The ultimate goal remains to become a company producing fully electric cars, and to do this Another 5 BEV models are already in development.However, the path to this will be somewhat different, given changing market conditions and customer demands.
For this reason, Volvo is committed to ensuring that have a sales structure consisting of 90-100% electric vehicles and plug-ins by 2030.. The remaining 0-10% from mild hybrid vehicles, “if needed”. So by 2030 there will no longer be a 100% electric range.
Volvo estimates that by 2025 the share of electrified products will be between 50% and 60%. Well before the end of this decade, the carmaker will have a full range of fully electric vehicles that will allow full electrification when and if market conditions allow.
Volvo’s share of fully electric cars in the second quarter of 2024 was 26%. With plug-in models, this rises to 48%. This change in strategy will not affect the company’s long-term investment plan. The brand then added that it will continue to develop its plug-in and mild hybrid cars.
Volvo continues to develop its plug-in and mild hybrid vehicles, equipping itself with a balanced portfolio that represents a clear bridge to an all-electric future.
At the same time, the car manufacturer calls on governments to adopt more decisive policies to support this transition phaseVolvo criticizes the slow pace of development of charging infrastructure, the withdrawal of government incentives in some markets and the additional uncertainty created by recent tariffs on electric vehicles in various markets. Jim RowanVolvo CEO, commented:
We firmly believe that our future is electric. Electric vehicles offer a superior driving experience and expand the use of advanced technologies that improve the overall customer experience. However, it is clear that the transition to electrification will not be linear, and customers and markets move at different speeds of adoption. We are pragmatic and flexible, while maintaining an industry-leading position in electrification and sustainability.
Source: HD Motori
Ashley Fitzgerald is an accomplished journalist in the field of technology. She currently works as a writer at 24 news breaker. With a deep understanding of the latest technology developments, Ashley’s writing provides readers with insightful analysis and unique perspectives on the industry.