Volvo To Make Only Electric Vehicles By 2030

<blockquote>Volvo says it will make only electric vehicles by 2030. But if you want one, youll have to buy it online.<br><br>The Swedish automaker said Tuesday that it is phasing out the production of all cars with internal combustion enginesincluding hybrids.<br><br>There is no long-term future for cars with an internal combustion engine, said Henrik Green, Volvos chief technology officer.<br><br>Volvos announcement follows General Motors pledge earlier this year to make only battery-powered vehicles by 2035.<br>Volvo also said that, while its all-electric vehicles will be sold exclusively online, dealerships will remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling, preparing, delivering and servicing cars.<br><br>As part of the announcement Tuesday, the Swedish automaker will unveil its second fully electric car, a follow-up to last years XC40 Recharge, a compact SUV. Volvo said its goal is to have half of its global sales to be fully electric cars by 2025, with the remaining half made up of hybrids.<br><br>Automakers around the world are ramping up production of electric vehicles as charging technology improves and governments impose stricter pollution regulations.<br><br>We are firmly committed to becoming an electric-only car maker, Green said. It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change.<br><br>Despite the rising number of EVs available in the U.S., fully electric vehicles accounted for less than 2% of new vehicle sales last year. Americans continue to spend record amounts on gas-powered trucks and SUVs.<br><br>About 2.5 million electric vehicles were sold worldwide last year and industry analyst IHS Markit forecasts that to increase by 70% in 2021.<br><br>Volvo says it sold 661,713 cars in about 100 countries cars worldwide in 2020. According to Autodata Corp., 107,626 of those vehicles were sold in the U.S.<br><br>Founded in 1927, Volvo Cars has been owned by Chinas Zhejiang Geely Holding Group since 2010.<br></blockquote><br><a href="https://apnews.com/article/volvo-electric-vehicles-only-2030-5ecff5dbf0e3fa01f822a015a5625b9f">https://apnews.com/article/volvo-electric-vehicles-only-2030-5ecff5dbf0e3fa01f822a015a5625b9f</a>
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