Volvo has become the latest car giant to commit to making only electric vehicles.
The Swedish automaker said on Tuesday that it plans to exclusively sell EVs by 2030. All petrol and diesel engines — including hybrids — will be phased out from its lineup by that date.
“There is no long-term future for cars with an internal combustion engine,” said Henrick Green, Volvo’s chief technology officer. “We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030.”
The firm, owned by China’s Geely group, also announced that all its new EVs will only be sold online.
The 💜 of EU tech
The latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
[Read: How do you build a pet-friendly gadget? We asked experts and animal owners]
Green said the move to all-electric vehicles was triggered by changing customer demands and environmental concerns.
The transition will also help the carmaker meet global CO2 emissions targets and bans on fossil fuel-based vehicles.
Volvo’s announcement comes just weeks after Ford and Jaguar Land Rover made similar commitments to phase out gas and diesel vehicles.
Håkan Samuelsson, Volvo’s chief executive, acknowledged that Jaguar’s pledge has encouraged his company “to be a bit braver.” Hopefully, Volvo’s move has a similar effect on rival carmakers who are yet to make similar commitments.
Sources: Reuters, the Guardian
Get the TNW newsletter
Get the most important tech news in your inbox each week.