LONDON, March 2 (Reuters) – The full range of Volvo cars will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of carmakers who plan to phase out fossil fuel engines until at the end of this decade. .
“I am absolutely convinced that there will be no customers who really want to stay with a petrol engine,” Volvo CEO Håkan Samuelsson told reporters when asked about the future demand for electric vehicles. “We are convinced that an electric car is more attractive to customers.”
The Swedish carmaker said 50% of its global sales should be fully electric cars by 2025 and the other half of hybrid models.
Owned by Zhejiang Geely Holding Group in Hangzhou, Volvo said it will launch a new family of electric cars in the next few years, all of which will only be sold online. Volvo will present its second all-electric model, the C40, on Tuesday.
Samuelsson said Volvo will include wireless upgrades and fixes for its new electric models – an approach initiated by electric car maker Tesla Inc.
Car manufacturers are competing to switch to zero-emission models, as they face CO2 emissions targets in Europe and China, plus bans on fossil fuel vehicles in some countries.
Last month, Ford Motor Co said its European range will be fully electric by 2030, while Tata Motors’ Jaguar Land Rover said the luxury Jaguar brand will be fully electric by 2025, and the automaker will launch electric models of its entire line – by 2030.
And in November last year, luxury carmaker Bentley, owned by German company Volkswagen, said its models will all be electric by 2030.
Electrification is expensive for carmakers and, as electric vehicles have fewer moving parts, the number of jobs in the automotive industry is expected to decline.
Last week, the head of the Daimler AG truck division said that the electrical operation will cost thousands of jobs in the company’s propulsion plants in Germany.
Volvo has said it will invest heavily in online sales channels to “radically reduce” the complexity of its model range and offer customers transparent pricing.
The global manufacturer’s network of 2,400 traditional brick dealers will remain open to service vehicles and help customers place orders online.
Through volvocars.com, customers will be able to choose from a streamlined range of Volvo electric pre-configured for fast delivery – but will still be able to order custom models. (Reporting by Nick Carey; Editing by Barbara Lewis)