Volvo announced that it plans to become a fully electric car manufacturer by 2030. It will phase out all internal combustion engine and hybrid vehicles by the 2030 deadline.
“To remain successful, we need profitable growth,” Håkan Samuelsson, chief executive of Volvo said. “So instead of investing in a shrinking business, we choose to invest in the future – electric and online.”
Volvo expects that legislation and an increase of vehicle charging stations will lead to greater acceptance by the public of fully electric vehicles. By 2025 Volvo is expecting that 50% of their global sales will be fully electric vehicles, and that the other 50% will be hybrids.
The Swedish car manufacturer will only offer their fully electric cars online. Volvo maintains greater transparency to the consumer by moving to an online only marketplace.
“To remain successful, we need profitable growth,” Samuelsson said. “So instead of investing in a shrinking business, we choose to invest in the future – electric and online.”
After announcing that they are moving towards fully electric cars by 2030, Volvo revealed their new vehicle the C40 Recharge. The zero emissions SUV is based on the Compact Modular Architecture platform.
The CMA is a joint business venture between Volvo and Geely, under the China Euro Vehicle Technology AB Research and Development banner. Currently Volvo uses the CMA platform on the XC40.
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The C40 Recharge is the first Volvo vehicle that is designed as a pure EV. Power is provided by twin electric motors, one on the front and on the rear axle, with a 78kWh battery. The battery can be fast-charged to 80% in approximately 40-minutes.
The C40 Recharge has an expected range of 260-miles (420 km) and Volvo expects it go from 0-62mph (100 km/h) in 4.9-seconds.
With an emphasis on the environment and resource protection it will be the first Volvo vehicle to have a 100% leather-free interior. Production of the C40 Recharge will begin in the Fall of this year at their Ghent, Belgium plant.