Volvo Cars said Tuesday it planned to become a “fully electric car company” by the year 2030, with all sales of the firm’s pure electric models set to move online.
In order to meet its target, the company will look to remove cars with internal combustion engines — including hybrids — from its global offering by the end of the decade.
The Chinese-owned automotive giant launched its first all-electric car last year. In the mid-term, it wants half of global sales to be fully electric by 2025, with hybrids accounting for the other half.
“There is no long-term future for cars with an internal combustion engine,” Henrik Green, Volvo Cars’ chief technology officer, said in a statement.
“We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030,” Green added.
Speaking to CNBC’s “Squawk Box Europe” on Tuesday morning, CEO Håkan Samuelsson sought to