Volvo Lineup To Be Fully Electric By 2030, “No Ifs, No Buts”

are playing it safe and going with a diversified powertrain offering ranging from gasoline, battery-powered, and hydrogen-powered platforms for the foreseeable future.is aware of the risks associated with this bullish decision, the biggest one being a potential loss of sales, but as Bjorn Annwall puts it, focusing financial and human resources on a single powertrain technology gives the company the best shot at producing the most compelling EVs.

"We would give up a lot of growth if we didn't focus on battery" vehicles, he said."Last time I looked, that's a very strong growing market, and ICE is a shrinking market. To be successful, you should focus on the growing part of the market." Furthermore, Volvo’s CEO, Jim Rowan, believes that the best way forward for the Swedish-based car manufacturer is to go all in on the future rather than throw money at “old technology”, i.e. combustion engines.

"Would you invest in an internal combustion engine in 2029?" Rowan said."Maybe we sacrifice a little bit [in sales], but I think we gain a lot more than we sacrifice."

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