Volvo is revising its plan to only sell electric cars by 2030, now aiming for 90-100% of its sales to be electrified. The remaining 10% will allow for some mild hybrids if necessary. By 2025, Volvo expects 50-60% of its sales to be electrified.
Five Electric Cars in Development
Volvo currently has five electric cars in development, in addition to the electric and plug-in hybrid models already on sale. The automaker recently launched the EX90 in the U.S., unveiled the 2025.5 XC90 plug-in hybrid, and teased the electric ES90 sedan.
Continued Development of Hybrid Vehicles
While Volvo is focusing on electrification, development of plug-in hybrid and mild hybrid vehicles will continue. The automaker did not specify the number of models under development, but it remains a part of Volvo’s strategy going forward.
Challenges in the Market
Volvo cited slow development of charging infrastructure and the withdrawal of government incentives in some markets as key reasons for revising its electrification plan. The automaker emphasized the need for stronger and more stable government policies to support the transition to electrification.
Net Zero Greenhouse Gas Emissions by 2040
In addition to its electrification goals, Volvo aims to achieve net zero greenhouse gas emissions by 2040. This commitment to sustainability aligns with the automaker’s overall vision for a more environmentally friendly future.