Volvo has revised its 2030 plan to go fully electric, citing slowing demand for EVs and rising consumer interest in hybrids. The automaker now expects 90% to 100% of its 2030 sales to be electric or plug-in hybrids, with mild hybrids making up the remainder.
Volvo announced on Wednesday that it has reversed its goal of producing only electric vehicles by 2030, acknowledging that hybrids will remain part of its lineup. The Swedish automaker, which is backed by China’s Geely, originally aimed to go fully electric but is now adapting to market conditions where demand for EVs is slowing.
Power revealed that 52% of car shoppers cited concerns about public charging infrastructure as a reason for their disinterest in EVs—a figure that has grown over the past year.Volvo’s second-quarter 2024 sales data supports this shift, with 26% of its sales consisting of fully electric vehicles, while hybrids and EVs combined accounted for 48%. By 2025, Volvo expects its electrified lineup to make up between 50% and 60% of its total sales.
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Volvo scales back its EV goals, will no longer be fully electric by 2030Will Shanklin has been writing about gadgets, tech and their impact on humanity since 2011. Before joining Engadget, he spent five years creating and leading the mobile technology section for New Atlas. His work has also appeared on SlashGear, TechRadar, Digital Trends, AppleInsider, Android Central, HuffPost and others.
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