Volvo Shelved Electric Vehicle Project

Swedish carmaker Volvo Cars has announced that it has revised its goal to sell only fully electric vehicles by 2030. The company plans to focus on plug-in hybrid cars as it moves toward this goal. Volvo Cars CEO Jim Rowan stated in a statement that they believe electric vehicles are the solution for the future, but emphasized that this transition will not be linear and that adoption rates will vary across markets and customers.

“We are very confident that our future is electric,” Rowan said. However, he acknowledged that the pace of the transition to electric vehicles will vary across markets and customer groups. Volvo will therefore continue to invest in the development of electric vehicles, while also offering hybrid-powered vehicles to appeal to a wider range of customers during the transition.

Volvo's approach underlines the need for car manufacturers to adapt flexibly to changing market conditions and different regional needs.