Bloomberg News: ‘Volvo Car Scales Back EV Target After Demand Falls Short’ – ‘Drops goal to sell only full EVs by 2030’

By Marc Morano

September 4, 2024
12:23 pm

https://www.bloomberg.com/news/articles/2024-09-04/volvo-car-walks-back-electric-push-after-disappointing-demand

Volvo Car AB abandoned a target to sell only fully electric vehicles by the end of this decade, joining several peers in walking back its EV ambitions due to waning demand.

The Chinese-owned automaker now aims for plug-in hybrid and battery-only models to account for at least 90% of its sales in 2030. The remainder will be mild hybrids that rely mostly on combustion engines, Volvo said Wednesday.

Bloomberg News: ‘Volvo Car Scales Back EV Target After Demand Falls Short’ – ‘Drops goal to sell only full EVs by 2030’

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