{"id":76518,"date":"2024-09-04T10:07:20","date_gmt":"2024-09-04T14:07:20","guid":{"rendered":"https:\/\/autosector.com\/?p=76518"},"modified":"2024-09-04T10:07:20","modified_gmt":"2024-09-04T14:07:20","slug":"volvo-backtracks-100-ev-pledge","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=76518","title":{"rendered":"Volvo backtracks on its 100% EV pledge: Here’s what the new plan looks like"},"content":{"rendered":"
\n\t\"Volvo-EV-pledge\"<\/figure>\n

Another automaker is adjusting its near-term electric vehicle target. Volvo<\/a> is scaling back on its 100% EV pledge by 2030. The company said stronger government support is needed to advance the transition.<\/p>\n

<\/p>\n

Volvo was one of the first automakers to set a 100% EV sales goal<\/a> by 2030. The announcement was made over three years ago in March 2021.<\/p>\n

The plan was to sell only fully electric cars while phasing out \u201cany car in its global portfolio with an internal combustion engine, including hybrids.\u201d <\/p>\n

Volvo\u2019s former chief executive, Henrick Green, explained, \u201cThere is no long-term future for cars with an internal combustion engine,\u201d adding, \u201cInstead of investing in a shrinking business, we choose to invest in the future.\u201d<\/p>\n

It looks like those plans are now changing. Volvo announced Wednesday<\/a> that it was adjusting its electrification strategy.<\/p>\n

Volvo is scaling back its 100% EV pledge by 2030. The new plans call for 90 to 100% of global sales to be electrified, including EVs and plug-in hybrids (PHEVs). Or, in other words, \u201call cars with a cord.\u201d<\/p>\n

\"Volvo-EV-pledge\"
Volvo EC40 (right) and EC40 (left) Recharge EVs (Source: Volvo)<\/figcaption><\/figure>\n

Volvo walks back 100% EV pledge by 2030<\/h2>\n

The other up to 10% will be \u201ca limited number of hybrids\u201d if needed. By 2025, Volvo expects 50 to 60% of sales to be electrified.<\/p>\n

Volvo has already launched five all-electric models: the EX40, EC40, EX30, EM90, and the EX90. After delivering its first model in January, the Volvo EX30<\/a> is already the third best-selling EV in Europe. <\/p>\n

\"Volvo-EV-pledge\"
Volvo EX30 (Source: Volvo)<\/figcaption><\/figure>\n

Another five EVs are in development. However, Volvo said the shift comes as the charging infrastructure rollout has been out slower than expected, and government incentives have been withdrawn.<\/p>\n

Volvo is calling for stronger and more stable government policies to support the transition to EVs.<\/p>\n

\"Volvo-EV-pledge\"
Volvo EX90 production kicks off in South Carolina (Source: Volvo Cars)<\/figcaption><\/figure>\n

Volvo Cars CEO Jim Rowan explained, \u201cWe are resolute in our belief that our future is electric.\u201d He added, \u201cAn electric car provides a superior driving experience.\u201d<\/p>\n

Despite this, \u201cit is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds of adoption,\u201d Rowan explained.<\/p>\n

\"Volvo-EV-pledge\"
Volvo EX90 (Source: Volvo)<\/figcaption><\/figure>\n

Volvo also adjusted its CO2 reduction goal. The company aims to reduce CO2 emissions per car by 65% to 75% by 2030 (using 2018 as a baseline). That\u2019s down from the previous 75% reduction target.<\/p>\n

Next year, Volvo aims for a 30 to 35% reduction (with 2018 as a baseline), down from 40%. The company is still working with suppliers to cut CO2 emissions across its value chain.<\/p>\n

Electrek\u2019s Take<\/h2>\n

With two new electric SUVs<\/a>, the EX30 and EX90, rolling out, Volvo still expects all-electric vehicle sales to pick up.<\/p>\n

Volvo\u2019s first US-made EX90 rolled off the assembly line in June, with deliveries kicking off this month.<\/p>\n

The EX30, starting at $34,950, will be one of the most affordable EVs in the US. However, Volvo cited new tariffs on EVs imported from China as another reason for the adjustment.<\/p>\n

The US announced a 100% tariff while Europe is planning to slap an extra 36.3% tariff. Volvo\u2019s EX30 is made in China, but the company will begin production in Belgium to bypass the additional duties.<\/p>\n

Volvo\u2019s announcement comes after several automakers, including Ford, GM, and Mercedes-Benz, revealed similar adjustments.<\/p>\n

With legacy automakers scaling back, it could give pure EV makers, like Tesla and Rivian, even more time to grab market share.<\/p>\n

\n

FTC: We use income earning auto affiliate links.<\/em> More.<\/a><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Another automaker is adjusting its near-term electric vehicle target. Volvo is scaling back on its 100% EV pledge by 2030. The company said stronger government support is needed to advance the transition. Volvo was one of the first automakers to set a 100% EV sales goal by 2030. The announcement was made over three years […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-76518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/76518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76518"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/76518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76518"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}