- Volvo gives up plan to sell only EVs by 2030
- Changing market conditions including slowdown in demand and trade tariffs as reasons
- Amongst other automakers to scale back EV targets
Volvo gives up plan to sell only EVs by 2030
Volvo has scrapped its goal of producing only fully electric cars by 2030, now planning to include hybrid models in its lineup by that date. The company cited changing market conditions, including a slowdown in demand for electric vehicles (EVs) and uncertainty from trade tariffs on EVs made in China, as reasons for the shift.
Volvo joins other automakers like General Motors and Ford in scaling back their EV targets. Despite the change, Volvo still aims for at least 90% of its production to be a mix of electric cars and plug-in hybrids by 2030, with some mild hybrids also in the mix.