Volvo Cars walks back target to build only electric cars by 2030
Swedish carmaker Volvo is no longer sticking to its target of building only electric vehicles by 2030, Bloomberg reported on Wednesday. The company cited changing market conditions and customer demand.
Volvo now expects 90 to 100 percent of its global sales to be either fully electric or hybrid plug-in cars by 2030. The remaining 0 to 10 per cent will be mild hybrid models where needed, the company said.
Volvo insists that in the long term, it still wants to become a pure electric vehicle manufacturer
The company, which has a large manufacturing plant in the Belgian city of Ghent, has begun moving its electric vehicle production from China to Belgium, The Times reported in June. The move comes in response to impending European Union tariffs on electric vehicles made in China.
The Swedish carmaker says 50 to 60 per cent of its sales will be plug-in cars by 2025. Volvo insists that in the long term, it still wants to become a pure electric vehicle manufacturer.
#FlandersNewsService | © BELGA PHOTO JONAS ROOSENS
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