Volvo bets on the death of gasoline cars and will become fully electric by 2030

LONDON, March 2 (Reuters) – Volvo’s entire range of cars will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of automakers who plan to phase out fossil fuel engines to late this decade. .

“I am totally convinced that there will be no customers who really want to stick with a gasoline engine,” Volvo CEO Håkan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive to customers.”

The Swedish automaker said 50% of its global sales should be fully electric cars by 2025 and the other half hybrid models.

Owned by Hangzhou-based Zhejiang Geely Holding Group, Volvo said it will launch a new family of electric cars in the coming years, all of which will be sold online only. Volvo will introduce its second all-electric model, the C40, later on Tuesday.

Samuelsson said Volvo will include wireless updates and fixes for its new electric models, an approach pioneered by electric car maker Tesla Inc.

Automakers are racing to switch to zero-emission models while facing CO2 emissions targets in Europe and China, as well as looming bans in some countries on fossil fuel vehicles.

Last month, Ford Motor Co said its line in Europe will be fully electric by 2030, while Tata Motors unit Jaguar Land Rover said its luxury brand Jaguar will be fully electric by 2025 and that the automaker will launch. electric models of its entire line. until 2030.

And last November, luxury automaker Bentley, owned by Volkswagen of Germany, said its models will be fully electric by 2030.

Electrification is expensive for automakers, and since electric vehicles have fewer moving parts, employment in the auto industry is expected to decline.

Last week, the head of Daimler AG’s DE> truck division said electricity will cost thousands of jobs at the company’s propulsion plants in Germany.

Volvo said it will invest heavily in online sales channels to “radically reduce” the complexity of its model range and offer customers transparent pricing.

The automaker’s global network of 2,400 traditional dealerships will remain open to service vehicles and to help customers order online.

Through, customers will be able to choose from a simplified range of pre-configured electric Volvos for fast delivery, but will still be able to order custom models. (Reporting by Nick Carey; editing by Barbara Lewis)


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