LONDON-Volvo ’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of carmakers planning to phase out fossil-fuel engines by the end of this decade.
“I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Håkan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.”
The Swedish carmaker said 50% of its global sales should be fully-electric cars by 2025 and the other half hybrid models.
Owned by Hangzhou-based Zhejiang Geely Holding Group, Volvo will launch a new family of electric cars in the next few years, all of which will be sold online only. Volvo will unveil its second all-electric model, the C40, later on Tuesday.
Samuelsson said Volvo will include wireless upgrades and fixes for its new electric models – an approach pioneered by electric carmaker Tesla Inc.