Volvo has announced it is only going to sell electric vehicles by 2030. The Swedish carmaker plans to phase out all vehicle models with internal combustion engines by then, including hybrids.
Volvo previously announced that by 2025, half of its sales would be fully electric, with the rest being hybrids.
The company also plans to shift all sales online as it cuts out dealerships in negotiating prices.
“The future of Volvo is defined by three pillars: electric, online and growth,” said Lex Kerssemakers, Volvo’s commercial boss.
Volvo has already taken steps towards a full electric shift, including merging its combustion engine program with sister firm Geely’s and divesting that into a standalone company.
“There is no long-term future for cars with an internal combustion engine,” said the company’s chief technology officer Henrik Green. “We are firmly committed to becoming an electric-only carmaker and the transition should happen by 2030. It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change.”