Betting on death of petrol cars, Volvo to go all electric by 2030

LONDON (Reuters) – Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of automakers planning to phase out fossil-fuel engines by the end of this decade.

“I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Håkan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.”

The Swedish-based carmaker said 50% of its global sales should be fully-electric cars by 2025 and the other half hybrid models.

Owned by Hangzhou-based Zhejiang Geely Holding Group, Volvo will launch a new family of electric cars in the next few years, all of which will be sold online only.

On Tuesday it unveiled the first of those models, the C40, a fully electric SUV, which will have an initial battery range of around 420 kilometres (261 miles).

Volvo will include wireless upgrades and fixes for its new electric models – an approach originally pioneered by electric carmaker Tesla Inc. This means the C40’s range will be extended over time with software upgrades, Chief Technology Officer Henrik Green said.

Carmakers are racing to switch to zero-emission models as they face CO2 emissions targets in Europe and China, plus looming bans in some countries on fossil fuel vehicles.

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