Smart Quote
Axalta SEP 2021
BMW SEPTEMBER 2021

Volvo Cars recently announced that it intends to become a fully electric car company by 2030, selling fully electric cars only and phasing out any car in its global portfolio with an internal combustion engine – including hybrids.

The company’s transition is part of its climate plan which seeks to consistently reduce the life-cycle carbon footprint per car. Its decision also builds on the expectation that legislation, as well as a rapid expansion of accessible high quality charging infrastructure, will accelerate consumer acceptance of fully electric cars.

Volvo Cars’ move towards full electrification comes together with an increased focus on online sales – all fully electric models will be available online only.

“To remain successful, we need profitable growth. So instead of investing in a shrinking business, we choose to invest in the future – electric and online,” said Håkan Samuelsson, chief executive.

Second fully electric car launched

Volvo Cars launched its first fully electric car, the XC40 Recharge, in markets around the globe last year. The company recently revealed its second fully electric car, a new model in the 40 Series. By 2025, it aims for 50% of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.

“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, chief technology officer. “We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030. It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change.”

And, if the argument stands up that “green” parts are in fact better for environment, then why wouldn’t insurers make that choice?