Volvo has announced a big change to its electrification plans. Volvo had already announced plans to have a full EV lineup by 2030, but now those plans have changed.
Due to market changes, basically slow EV sales, Volvo has decided to keep its plug-in hybrid and hybrid models around longer than originally planned. By 2030 Volvo now wants 90-100 percent of its sales to be fully electric and plug-in hybrid models. The remaining 0-10 percent will be a limited number of hybrid models.
Volvo expects that by 2025 between 50-60 percent of its sales will EVs and plug-in hybrids. In the second quarter of 2024, those models accounted for 48 percent of Volvo’s sales.
Volvo will have a complete lineup of fully electric cars available by the end of the decade, so it can easily switch to only offering EVs when the market is ready for it.
