Volvo abandons plan for EV-only sales by 2030

Volvo has abandoned its objective to only sell pure electric cars by 2030.

Its revised target is for electric cars and hybrids to make up between 90% and 100% of global sales.

The Geely-owned company announced its EV-only plan in 2021 but has blamed a lack of charging infrastructure and cooling customer demand for the revision.

Volvo Cars chief executive Jim Rowan said: “We are resolute in our belief that our future is electric. An electric car provides a superior driving experience and increases possibilities for using advanced technologies that improve the overall customer experience.

“However, it is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds of adoption. We are pragmatic and flexible, while retaining an industry-leading position on electrification and sustainability.”

Volvo’s decision comes after the Society of Motor Manufacturers and Traders revised down its 2024 estimates for EV sales. In April it predicted EVs would make up 19.8% of all new car sales, but in July it decreased that to 18.5%.

Mike Hawes, SMMT chief executive, said: “Achieving market transition at the pace demanded requires greater support for consumers and action on incentives and infrastructure is needed now.”