Volvo abandons plan to sell only all-electric cars by 2030

GOTHENBURG: Volvo has abandoned its ambition to sell only fully electric cars by 2030.

The Swedish company announced on Wednesday it is now aiming for 90-100% of its global sales to be either pure electric or plug-in hybrid at that point.

It said this will "allow for a limited number of mild hybrid models to be sold, if needed”.

Volvo’s previous target, set in 2021, was for all its cars to be pure electric by 2030.

Volvo, majority-owned by China’s Geely, attributed the change in policy to a "slower than expected” rollout of charging infrastructure, the withdrawal of government incentives in some markets and "additional uncertainties” created by recent tariffs on electric vehicles.

Volvo cars chief executive Jim Rowan said: "We are resolute in our belief that our future is electric.

"An electric car provides a superior driving experience and increases possibilities for using 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 are moving at different speeds of adoption.

"We are pragmatic and flexible, while retaining an industry-leading position on electrification and sustainability.”