Volvo targets manufacturing a considerable proportion, ranging from 90 to 100%, of entirely electric vehicles by the year 2030.
Volvo, under the ownership of global firm Geely, initially aimed to produce solely electric automobiles by 2030. Yet, they revised their objective, stating a potential range of 90-100% electrification. Around 10% of their new vehicles might even be hybrid models, should the situation call for it. Volvo attributed the lack of advancement in charging infrastructure in certain regions as the primary rationale behind this alteration.
The company emphasized that they remain committed to full electrification as their primary focus. However, owing to shifting market trends and consumer preferences, this objective may not be achievable by 2030.
As of now, Volvo provides five pure electric models and is working on five more. By 2025, electric vehicles are anticipated to comprise 50-60% of their total sales. In the second quarter of this year, electric vehicles represented 26% of their sales, whereas the total, including hybrids, reached 48%.
The original objective of the Volvo programme was full electrification by 2030, but this has since been revised due to challenges in charging infrastructure and shifting market trends. Despite this revision, the objective of the programme still remains to achieve a high level of electrification.
