VOLVO MEDIA RELEASE 03/03/2021

Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and plans to become a fully electric car company by 2030.

By then, the company intends to only sell fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids.

Ben Montgomery, Volvo NZ general manager says the next decade will bring rapid change in this space, and New Zealand customers of the Swedish marque have already begun to see the first steps in the transition towards a fleet of pure EVs.

“The rapid phasing out of all vehicles with an internal combustion engine is an acknowledgment that the fight against climate change has become one of the company’s highest priorities.

“Volvo is in an exciting place to develop sustainable options and be fully electrified by 2030. In fact, in NZ we will be the first premium brand to stop selling diesel and will be rolling out more MHEVs and PHEVs shortly.”

“The first of the fully electric models is set to become available to Kiwis within the coming year,” he says.

The company’s transition towards becoming a fully electric car maker is part of its ambitious climate plan, which seeks to consistently reduce the life cycle carbon footprint per car through concrete action.

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.

The 2030 ambition represents an acceleration of Volvo Cars’ electrification strategy, driven by strong demand for its electrified cars in recent years and a firm conviction that the market for combustion engine cars is a shrinking one.

In coming years Volvo Cars will roll out several additional electric models, with more to follow. Already by 2025, it aims for 50 percent of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.

“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. “We are fully focused on becoming a leader in the fast-growing premium electric segment.”

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