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Volvo Cars has revised its plans to stop selling internal combustion engine vehicles by 2030, citing slow progress in charging infrastructure and the removal of purchase incentives. The company now anticipates its lineup will consist of at least 90% electric vehicles by the end of the decade, including battery-only and plug-in hybrids, with up to 10% potentially being mild hybrids. This shift is in response to evolving market conditions and customer preferences. Despite regulatory pressures in Europe to transition to electric vehicles, the adoption of electric cars has faced challenges, including the abrupt withdrawal of purchase subsidies in Germany and insufficient charging infrastructure. Recent data shows a decline in registrations of battery-only vehicles in Europe. Additionally, new tariffs on electric vehicles from China present further uncertainties, potentially driving up prices. Other automakers, including Mercedes-Benz and Ford, have also scaled back their electric vehicle targets and investments. #MotiveAsia #Japan https://lnkd.in/g9CxxmNf

Volvo is shifting gears! 🔄 Originally aiming for a fully electric fleet by 2030, the carmaker now expects to include some hybrid vehicles in its lineup. 🚗⚡ This decision comes amidst a global slowdown in EV demand and trade tariffs on China-made EVs. 🌍💼 Volvo, a champion of environmental sustainability, now joins the likes of General Motors and Ford in revising their EV goals. 🌿🔋 By 2030, Volvo aims for at least 90% of its production to be a mix of electric cars and plug-in hybrids. 🎯 Despite the change in plans, Volvo remains steadfast in its commitment to an electric future, acknowledging that the journey won't be a straight road. 🛣️🔌 For more details, check out the full story here 👉 https://bit.ly/4dToapN #Volvo #ElectricCars #HybridCars #AutomotiveNews 🚘🌐

Volvo gives up plan to sell only EVs by 2030 'Transition will not be linear' "We are resolute in our belief that our future is electric," said Jim Rowan, chief executive of Volvo. "However, it is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds." Car company Volvo has abandoned its target to produce only fully electric cars by 2030, saying it now expects to be selling some hybrid vehicles by that date. The carmaker blamed changing market conditions for its decision to give up a target it had announced only three years ago. It comes as the industry faces a slowdown in demand in some major markets for electric vehicles (EVs) and uncertainty due to the imposition of trade tariffs on EVs made in China. Volvo, which has traditionally flaunted its environmental credentials, joins other major carmakers General Motors and Ford in rowing back on EV ambitions. Volvo now expects at least 90% of its output to be made up of both electric cars and plug-in hybrids by 2030. The Swedish company may also sell a small number of so-called mild hybrids, which are more conventional vehicles with limited electrical assistance. 'Transition will not be linear' "We are resolute in our belief that our future is electric," said Jim Rowan, chief executive of Volvo. "However, it is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds." The company also said the business climate for EVs had changed, due to factors such as a slow rollout of charging infrastructure and the withdrawal of consumer incentives. Independent equity analyst Anna McDonald said consumers still had concerns about switching to EVs. “Some of the subsidies that governments had put in place to encourage electric car purchases have ended and also there’s just that ongoing lack of demand because consumers are worried about charging," she told the BBC's Today programme. “It still remains the case that electric cars remain more expensive. "While the EU and the US are putting tariffs on Chinese cars that are imported to stop them kind of swamping the market, that just means that vehicles have to be made outside China which is more expensive in themselves. "Car manufacturers are not keen to start making a loss on these vehicles," Ms McDonald added. Registrations of EVs across the European Union dropped by nearly 11% in July, according to the European Automobile Manufacturers Association. Volvo is majority-owned by Chinese car giant Geely and because it uses factories in China, it will also be affected by tariffs on imports of Chinese-made EVs in Europe and North America. https://lnkd.in/dPMGzQvi

Volvo Cars has revised its earlier commitment to stop selling internal combustion engine vehicles by 2030, now aiming for a lineup that is at least 90% electric, which includes both battery-only and plug-in hybrids. The company indicates that up to 10% of its models may consist of mild hybrids. This adjustment is attributed to slow expansion of charging infrastructure and the withdrawal of purchase incentives. CEO Jim Rowan emphasized the uneven pace of the transition to electrification, reflecting varied customer and market adoption rates. The shift is driven by European emission regulations set to phase out internal combustion cars by 2035, though adoption of electric vehicles has faced challenges, including the sudden removal of subsidies in Germany and lagging charging station construction. Additionally, Volvo mentioned uncertainties from new tariffs on Chinese electric vehicles, with the U.S. imposing a full tariff and the EU implementing tariffs ranging from 17.4% to 37.6%. Volvo joins other automakers like Mercedes-Benz and Ford in scaling back electric vehicle targets. #MotiveAsia #Japan https://lnkd.in/gTKX4qft

Volvo Cars Shifts Gears on Electric Vehicles The automotive industry is taking a more cautious approach to electrification. Volvo Cars , once a leader in EV ambitions, has scaled back its plans and now expects to include hybrid vehicles in its 2030 goals. Factors like limited charging infrastructure, declining consumer incentives, and rising costs have contributed to this shift. Trade tariffs on Chinese-made EVs have also played a role. Other major automakers, including GM and Ford, are also adjusting their EV strategies. What do you think about this evolving landscape for electric vehicles? #electricvehicles #automotiveindustry #volvocars #industrytrends https://lnkd.in/eJNThgjJ

In a strategic shift, Volvo has adjusted its electric vehicle goal, aiming for at least 90% of its sales to be electric by 2030. While still committed to a greener future, this update highlights the complexities in transitioning to full electrification in the automotive industry. The company said it was adjusting to “changing market conditions and customer demands.” How do you see this evolving? #ElectricVehicles #Sustainability #Volvo #AutomotiveIndustry #CleanEnergy #EV #GreenTechnology #FutureOfMobility #ClimateAction

Volvo has announced that it is no longer committed to exclusively producing fully electric vehicles (EVs) by 2030. Instead, the company now expects to sell a mix of EVs and hybrid models, including plug-in and mild hybrids, by that date. This decision comes in response to changing market conditions, such as slowing demand in key regions and uncertainties due to tariffs on EVs manufactured in China. Volvo's shift aligns with moves by other major automakers like General Motors and Ford, who have also scaled back their EV targets amid challenges like the slow rollout of charging infrastructure and the end of consumer incentives in some markets. Despite this adjustment, Volvo still aims for at least 90% of its production to comprise EVs and plug-in hybrids by 2030. Jim Rowan, Volvo's CEO, emphasized the company’s commitment to an electric future but acknowledged that the transition would not be straightforward, with customers and markets adapting at different paces. Factors such as the recent decline in EV registrations in Europe and new tariffs on China-made EVs in Western markets have also impacted Volvo's strategy. Meanwhile, other automakers are similarly revising their plans: Ford recently canceled a new line of all-electric SUVs and delayed the launch of its next electric truck, while General Motors has reduced its EV production targets. . . . . . . . . #Initiatemagazine #initiate #initiator #Volvo #ElectricVehicles #HybridCars #AutomotiveIndustry #EVMarket #SustainableTransport #MarketTrends #GlobalTrade #AutomakerStrategy #ChinaTariffs #EVIncentives #GreenMobility

The worldwide car industry still appears to be in a state of flux with major news from Volvo Group and Volkswagen Group this week. Volvo targeted selling only electric vehicles (EVs) by 2030 but now forecast that they will still be selling hybrids at this point. Separately Volkswagen said this week they expect to sell 500,000 fewer vehicles than before Covid, whilst announcing plans for closure of two factories. Car manufacturers are also having to deal with policies such as the UK’s Zero Emmissons Mandate (ZEM), which means they must sell a certain proportion of EVs over the next few years or face significant fines. It’s leading to a confused outlook and uncertainty in vehicle production and availability for consumers and fleet operators. #fleets #carmanufacturing #cfoinsights

Volvo has scrapped its 2030 goal of producing only fully electric vehicles. The carmaker cites slowing demand for EVs, particularly in Europe, and trade tariffs on Chinese-made cars as key factors in its decision. Volvo, which is majority-owned by Chinese car giant Geely, now plans to produce a combination of electric and hybrid vehicles. The company still expects 90% of its production to be electric or plug-in hybrids by 2030. This move follows a broader industry trend, with companies like Ford and General Motors also scaling back their EV targets due to changing market conditions. #Volvo #EV #HybridCars #Sustainability #AutomotiveIndustry #GlobalTrade

Volvo is pushing back its deadline to sell only electric vehicles, now saying it will rely on a mix of hybrids and battery electric vehicles. The company says it will achieve “net zero greenhouse gas emissions” by 2040. Three years ago, the Swedish automaker made a commitment to only sell EVs by 2030. Since then, EV sales have exploded, but a recent slowdown in growth is leading many manufacturers to reconsider their pledges. Volvo blamed the readjustment on a number of factors, including “slower than expected rollout of charging infrastructure, withdrawal of government incentives in some markets and additional uncertainties created by recent tariffs on EVs in various markets.” — The Verge #volvo #automotive #EV