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Volvo is expected to roll out a slew of electric cars in times to come as a part of its aim for 50% of its global sales to be fully electric and the balance to be hybrids by 2025.
Auto Major Volvo is the latest to join a growing list of premium carmakers who are planning to phase out fossil fuel engines by 2030. This means that even the hybrid cars will be on the way out, and there would be only pure electric models in the Volvo Cars portfolio.
The Auto Majors 2030 ambition comes on the back of its massive electrification strategy which is driven by strongly increasing demand for electric cars in recent years; and also the belief that the demand for combustion engine cars will continue to shrink very rapidly.
“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 the company's CEO Håkan Samuelsson.
Along with its electrification motive, there will be an increased focus on digital sales -under 'Care by Volvo' – offering a more complete and transparent interface for customers. It is planned for all making all its Electric Models available online only.
“We are fully focused on becoming a leader in the fast-growing premium electric segment," said Samuelsson.
Volvo's first fully electric car, the XC40 Recharge, launched in global markets last year, is expected to be launched in India, later this year. year. Its second Electric Cas is also set to be revealed – possibly a new model in its 40 Series. A slew of electric models is expected to be rolled out as the company targets 50% of its global sales to be from its Electric Cars Range by 2025; and the rest hybrids.
“We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030," said Henrik Green, chief technology officer.
Volvo says that its transition towards the Electric Car mission is a part of its ambitious climate control, to reduce the life cycle carbon footprint per car through its actions. It plans to ease the transition further by investing in building accessible high-quality charging infrastructure.