Volvo abandoned its goal of fully switching to electric vehicles by 2030

Volvo Cars is abandoning its previously stated goal to switch to the production of exclusively electric vehicles by 2030, TASS reports

Photo: www.reuters.com

The reason for the change in the automaker's plans is due to changed market conditions and consumer demand. "Obviously, the transition to electrification will not be linear, and customers and markets will move at different speeds," Volvo Cars CEO Jim Rowan said.

The Swedish trade association of manufacturers and importers of passenger cars, lorries and buses, Mobility Sweden, has informed that 5,516 new electric vehicles were registered in Sweden in July this year, which was almost 15 percent less than a year ago. In total, their number decreased by about 19 percent in H1 2024.