Three years after Volvo announced plans to only sell electric vehicles by 2030, the automaker has adjusted its ambitions to aim for 90 to 100 percent electrified vehicles, including full EVs, plug-in hybrids, and a small percentage of mild hybrids by the end of the decade. Volvo attributes this change to shifting market conditions and customer demands. Despite this change, Volvo remains committed to long-term electrification, launching five fully electric models since its initial goal was set. The slow rollout of EV charging infrastructure, including only seven stations built nationwide, influenced Volvo’s decision. Additionally, uncertainties from tariffs on EVs in various markets, particularly those made in China, have impacted Volvo. The automaker also revised its CO2 reduction targets, aiming for a 65 to 75 percent decrease in emissions per car by 2030, compared to a previous goal of 75 percent. Volvo CEO Jim Rowan emphasized the company’s dedication to electric vehicles, acknowledging the non-linear transition to electrification and the varying speeds of adoption among customers and markets.
