Volvo has just announced its plans to meet sustainability goals and move away from internal combustion engine vehicles. The Swedish automaker has now stated that it will stop producing diesel cars from the beginning of 2024 and then plans to sell only all-electric vehicles by 2030, all before it aims to be a climate-neutral company by 2040,
As revealed at the Climate Week NYC event, Volvo also stated that it will “no longer spends a single crown of our R &D budget on the development of new internal combustion engines.” because it sold its stake in Aurobay, a venture company that had all its remaining internal combustion engine assets.
Jim Rowan, CEO of Volvo, says of this plan: “Electric powertrains are our future and superior to internal combustion engines: they generate less noise, less vibration, lower maintenance costs for our customers and no exhaust emissions. We are fully focused on creating a broad portfolio of premium, all-electric cars that deliver everything our customers expect from a Volvo – and are an important part of our response to climate change.”
With plans to be all-electric by 2030, Volvo will try to beat the plans laid out by many automakers.