Volvo gives up plan to sell only EVs by 2030

Published On Sep 4, 2024, 10:25 PM

Volvo has revised its goal to produce only fully electric cars by 2030, now planning to sell a mix of electric cars and hybrids. The change comes as demand for electric vehicles (EVs) slows and tariffs on Chinese-made EVs create uncertainty. Registrations of EVs in the EU have declined, and Volvo's CEO acknowledges that the transition to electric vehicles is not progressing uniformly. Other car manufacturers, including Ford and General Motors, are also reducing their EV targets due to similar market conditions.