LONDON, March 2 (Reuters) – Volvo’s full range of cars will be fully electric by 2030, the Chinese company said on Tuesday, joining a growing number of carmakers planning to phase out fossil fuel engines by the end of the year. decade.
“I am absolutely convinced that there are no customers who really want to stay with a petrol engine,” Volvo CEO Hakan Samuelson told reporters when asked about future demand for electric vehicles. “We are convinced that the electric car is more attractive to customers.”
The Swedish carmaker said 50% of its worldwide sales should be fully electric cars by 2025, and the remaining half hybrid models.
Owned by Hangzhou-based Zhejiang Geely Holding Group, Volvo has said it will launch a new family of electric cars in the next few years, all of which will only be sold online. Later on Tuesday, Volvo will present its second all-electric model, the C40.
Samuelson said Volvo will include wireless upgrades and repairs to its new electric models – an approach pioneered by electric car maker Tesla Inc.
Carmakers are vying to switch to zero-emission models as they face CO2 targets in Europe and China, as well as impending bans on fossil fuel vehicles in some countries.
Last month, Ford Motor Co said its lineup in Europe would be fully electric by 2030, while Tata Motors Jaguar Land Rover said its luxury Jaguar brand would be fully electric by 2025 and the carmaker would launch electric models on its entire line – until 2030
And last November, luxury carmaker Bentley, owned by Germany’s Volkswagen, said its models would be fully electric by 2030.
Electrification is expensive for carmakers, and as electric vehicles have fewer moving parts, employment in the automotive industry is expected to shrink.
Last week, the head of Daimler AG’s DE> truck division said electricity would cost thousands of jobs at the company’s plant in Germany.
Volvo has said it will invest heavily in online sales channels to “radically reduce” the complexity of its model range and provide customers with transparent pricing.
The automaker’s global network of 2,400 traditional brick and mortar dealers will remain open to vehicle service and customer support.
Through volvocars.com, customers will be able to choose from a simple range of pre-configured Volvo electrics for fast delivery, but will still be able to order custom models. (Report by Nick Carey; edited by Barbara Lewis)