Volvo has made a radical decision : by 2030, the company will no longer sell any vehicles running on thermal energy.
Volvo’s strategy in favor of electric mobility is unequivocal. According to a senior executive of the company, Volvo will no longer offer any cars that are not fully electric after 2030, across all markets. There will be no exceptions, no reservations. All models will be 100% electric. This position is emphasized by the recent launch of the Volvo EX30, a fully electric compact SUV.
While many global conglomerates make similar statements these days, these announcements are often accompanied by restrictive clauses. In reality, most automakers are not ready to completely abandon thermal vehicles by 2030; these declarations are primarily marketing-driven. For example, Mercedes has promised a fully electric lineup by 2030 while admitting that it will continue to sell thermal vehicles in certain markets that are “not ready for electric vehicles.” Bjorn Annwall, Chief Commercial Officer at Volvo, is aware of the consequences this strategy can have on the brand.
He acknowledges that “we may lose some sales in certain markets. Nevertheless, it is a conviction-based choice that we will fully embrace.” Jim Rowan, the CEO of Volvo, believes that it would be absurd for the company to continue investing in “outdated technology.”
Current projections indicate that electric vehicles will represent only a minority, approximately 27%, of global sales by 2030.
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