Swedish carmaker Volvo Cars will miss its goal of switching to fully electric vehicles by 2030.
Oku.Az This was reported by Interfax.
It should be noted that this was due to the slow deployment of charging infrastructure in some markets and the withdrawal of government incentives.
“While Volvo Cars remains an industry leader in electrification, the company has now decided to adjust its electrification ambitions due to changing market conditions and customer demands,” the carmaker said in a statement.
The company’s long-term goal is reported to have not changed and the transition to purely electric vehicles remains a key pillar of Volvo Cars’ product strategy.
The company aims to derive 90-100% of its sales from electric and hybrid cars by 2030. The remainder will be mild hybrids (combustion engines and small electric vehicles).
By 2025, the share of electrified cars is expected to be between 50% and 60%.
The Swedish company’s global sales in 2023 reached a record level: 708,716 cars.
