Sunday, July 14, 2024

Volvo changes its mind – will not bet everything on electric cars

Volvo Cars has long maintained that there is no excuse for building anything but electric cars in 2030. But now the brand is beginning to falter.

There are many indications that Volvo Cars is the latest in a long line of car brands that are ready to undo the goal of only building electric cars by 2030.

This is written by the German business media Manager Magazin .

In an interview with the brand's deputy director Björn Annwall, there was nevertheless 'an excuse' to continue with the combustion engine on the table.

According to Björn Annwall, it's all about Volvo being able to react if things don't go as quickly with electric cars as the brand otherwise imagines.

READ ALSO: These electric cars have completely disappeared – where did they go?

– We must be able to react at any time if the speed of the transformation changes. It does not always happen at the same speed in all regions.

– The electric car market is tougher and smaller than we expected a year ago. We said we would only sell electric cars from 2030. We will continue to do so. But until then there will be many ups and downs, says the deputy director.

The announcement from Björn Annwall comes roughly at the same time as the EU has decided that Volvo's owner, Geely, must pay a 20 percent punitive duty for the brand. For the same reason, there are many indications that Volvo is moving production to Europe even more than planned.

Officially, China has not yet responded again to the EU's punitive tariffs. But the communist dictatorship has repeatedly warned of fierce retaliation. Something especially the German brands such as Mercedes, Audi and BMW, who are major players in the Chinese market, fear.

Björn Annwall's announcement also comes shortly after sister brand Polestar has to admit that the hybrid car can no longer be ruled out. Read more about it here .

Read more exciting news from and about the world of cars right here!

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