. Volvo previously made a similar pledge, but it has now committed to going electric only.
“Volvo will not sell a single car that is not full-electric after 2030, regardless of market,” Bjorn Annwall, Volvo’s chief commercial officer, toldbut it could also cost it others, like the U.S. Although there’s a big push to electrify, projections suggest that EVs will only make up a minority of the market’s sales by 2030.
“There might be a few markets where we lose a little bit of sales,” said Annwall. But “we would give up a lot of growth if we didn’t focus on battery [vehicles …] Last time I looked, that’s a very strong growing market, and ICE is a shrinking market.” Meanwhile, Volvo’s CEO, Jim Rowan, asked why his company should invest in “old technology.” He, too, admitted that going EV only may cost sales in the short term, but claimed that Volvo will “gain a lot more than we sacrifice.”
Still, 2030 is years away, meaning that Volvo’s existing internal combustion vehicles will continue to receive attention. Annwall said that the company’s existing lineup will still get “a bit of love,” but that Volvo is “not investing in their base technology.” Updates will be reserved for their tech and design, not their engines.