Volvo pledges to go fully-electric by 2030

Taking a jab at rival automakers that have plans to produce and sell ICE-powered cars after 2030, Swedish auto brand Volvo has announced that it will have an all-electric line-up worldwide by the end of current decade.

Bjorn Annwall, Chief Commercial Officer (CCO) of the Swedish automaker, said the company has decided to produce and sell only EVs after 2030, and there will be “no ifs and no buts” about becoming an all-electric entity.

Volvo, the maker of the EX90 and XC40 Recharge, will have an all-electric lineup globally by 2030, “no ifs, no buts,” according to the brand’s chief commercial officer Annwall. He was was speaking to reporters on the sidelines of an event that was organized for the company’s all-new EV: the X30 small electric crossover.

Speaking on the topic, Annwall said, “Volvo will not sell a single car that is not full-electric after 2030, regardless of market. To be successful, you should focus on the growing part of the market.”

Volvo’s statement is in stark contrast to rival brands such as Mercedes-Benz, which have pledged to become fully-electric entities by 2030 only where market conditions allow them to do so.

Meanwhile, brands like BMW and Toyota are trying to play it safe. Such brands have announced plans to go with a diversified powertrain by offering a range of conventional gasoline-powered, battery-powered, and hydrogen-powered vehicles at least for the foreseeable future.

Volvo’s management is said to be well aware of the risks associated with their bullish decision to make the company a fully-electric entity by the end of current decade.

Undoubtedly, the biggest risk associated with the bullish decision will be a potential loss of sales, but CCO Annwall said focusing on a single powertrain technology will provide the company with an edge over rivals as it would enable the company to produce the most compelling electric cars.

The senior executive stressed that focusing all resources on a single powertrain would give a lot of growth to the company’s business.

Echoing similar views, Volvo’s CEO, Jim Rowan, added that the best way forward for the Swedish car brand would be to invest in future technologies rather than wasting money in old technologies (combustion engines).

Owned by Chinese automobile giant Geely, Volvo is currently preparing to launch at least five new EVs by 2026. the list includes a luxury electric minivan for the Asian market, and electric versions of the existing S60.