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Volvo commits to only producing fully electric vehicles by 2030

Posted at 9:05 AM, Mar 02, 2021

GOTHENBURG, Sweden — Volvo is joining the growing list of car brands committing to switching to electric vehicles.

The Sweden-based and Chinese-owned company announced Tuesday that it will only produce fully electric vehicles by 2030. Before that, it’s aiming for 50% of its sales to be fully electric by 2025.

On its website, Volvo cites climate change as the main reason for its new commitments.

“A global transition to electrified cars is essential if the world is to reach net zero emissions by 2050, and to limit the impact of climate change,” wrote the company.

Volvo says it’s part of the problem, so it needs to be part of the solution.

CEO Håkan Samuelsson said a video that all of the company’s “pure electric cars” will only be available online at pre-set prices. They’ll also come with a special customer care package and be equipped with specially developed recharge tires.

Although it’s investing heavily in online sales, Volvo says its retail partners will “remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling, preparing, delivering and servicing cars.”

Volvo’s goals are ambitious, considering the company only has one fully electric vehicle on the market at the moment. Its XC40 Recharge was launched last year. However, the company revealed its second fully electric car on Tuesday, a new model in the 40 Series – the C40 Recharge.

Volvo’s announcement comes weeks after General Motors committed to making only battery-powered vehicle by 2035. Toyota has also pledged to decrease its production of vehicles with internal combustion engines in the coming years.