Volvo to axe hybrids as it steps closer to becoming pure electric car brand

Swedish firm reveals that it is to become an electric only car brand in the "near future"

Volvo to axe hybrids as it steps closer to becoming pure electric car brand

Volvo has set out its plan to become a fully electric car brand and is to end production of its hybrid models after 2025.

Bosses aim for fully electric vehicles to account for 50 per cent of its global sales by 2025, launching a new electric model every 12 months up to that date.

Volvo’s chief executive, Hakan Sammuelson, told Auto Express that beyond 2025 it is a matter of “when” not “if” the company ditches internal combustion engines and hybrids all together.

Sammuelson said: “We have shown our strategy to electrify, not by doing one car, we did it the expensive way of adopting a new platform so all future cars will be either electric or hybrid – it is up to the customer.

“The higher the percentage of all electric [sales] the faster we will shut down the others.

“If only five per cent are buying cars with combustion it probably doesn’t pay to keep that – so let’s see what the customers prefer long term.”

The new Volvo XC40 Recharge is the firm’s first fully electric model and will be followed by four additional EVs by 2025.

“Outdated technology”

Sammuelson added: “If you stay with outdated technology that is not a smart way to improve your profits.

“What happens is then your margins disappear and you close down.

“If you introduce new technology, in the beginning it will probably lower margins – that has happened in the past. But after a number of years you introduce new technology because you believe it will improve your profits.”

Share your comments below.

Home Page Forums Volvo to axe hybrids as it steps closer to becoming pure electric car brand

This topic contains 0 replies, has 1 voice, and was last updated by  Mike Ruff, GW editor 3 weeks, 5 days ago.

You must be logged in to reply to this topic.

Have your say!

0 0

Lost Password

Please enter your username or email address. You will receive a link to create a new password via email.