Volvo declares its commitment to producing purely all-electric vehicles by 2030
— 2 minute read — By Josh Allen
Swedish automotive giants Volvo have declared they aim to move to all-electric by 2030, scrapping their hybrid and combustion engine models. Chief of Technology Officer, Henrik Green, states that “there is no long-term future for cars with an internal combustion engine”. Volvo’s 2030 plan aligns with the UK, Germany, Ireland, and Netherland’s 2030 ban on the sale of new non-electric vehicles, with the ban seeing the end of the sale on vehicles that are not powered by a fully electric engine.
Volvo, who previously signed a deal with Asian battery producers LG Chem and CATL, are owned by Chinese owners Zhejiang Geely Holding Group Co., Ltd. Yet plans to merge with their current owners were scrapped last month, instead leading to a partnership to produce electric car parts for both firms.
As of 2019, all of Volvo’s offerings contain an electric motor, with the manufacturer currently offering 3 “Mild Hybrid” (combustion engine with small electric motor charged via braking force to aid efficiency) options, 7 “Plug in Hybrid” (combustion engine with battery powered, larger, electric motor – requires charging) options and just the one all-electric vehicle option currently. However, Volvo state that by 2025 they aim for 50% of their car sales’ volume to be fully electric and they have also committed to putting one million electrified cars on the road in the same time frame.
The electric vehicle market was valued at 273.9 Billion USD in 2019, with a projected growth to 985.72 billion in 2027. According to Virta, China currently have the biggest EV market, with 2.3 million electric vehicles active – 45% of the world’s electric vehicles. Volvo’s commitment to electrification is a bold move considering the current size of the EV market. However, as per Virta’s projection, the likelihood is that the market will see a considerable growth as we edge closer to the 2030 ban.
This commitment to electrification is a positive step towards the lowering of emissions in the face of the global climate emergency. Despite witnessing a 32% decline in the greenhouse gas emissions the UK produces between 1990 and 2017, the greenhouse gas emissions from road transport have increased by 6% in the same time period. In fact, greenhouse gas emissions from road transport – across all households and industries – now make up a fifth of the UK’s greenhouse gas emissions in total.
Overall, Volvo’s commitment for electrification is a positive step and it is likely that in the coming years we will see many car manufacturers follow in Volvo’s footsteps in committing to full electrification ahead of 2030.