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Volvo To Make All Its Model Fully Electric By 2030


03/02/2021


Volvo To Make All Its Model Fully Electric By 2030
With a number of global auto companies already initiating plans to slowly phase out fossil-fuel engines by the end of this decade, the bandwagon was joined by the Chinese owned company Volvo. The company said on Tuesday that it would transform its entire car line-up completely electric by 2023.
 
"I am totally convinced there will no customers who really want to stay with a petrol engine," Volvo Chief Executive Håkan Samuelsson told reporters when asked about future demand for electric vehicles. "We are convinced that an electric car is more attractive for customers," Samuelsson added.
 
Sale of its cully electric cars would account for half of the total global sales of cars the company by 2025 while hybrid car models would make up the other half, the Swedish carmaker said.
 
Within the next few years, a new family of electric cars will be launched by Volvo, said the company which is currently owned by China’s Hangzhou-based Zhejiang Geely Holding Group. The company said that all of the new electric models will be sold through its online sale channel only.
 
The company also unveiled its second all-electric model, the C40, on Tuesday.
 
Volvo will also follow an approach that has been pioneered by united States based electric car maker Tesla Inc which is including wireless upgrades and fixes for all of the new electrically powered vehicles of the company, Samuelsson also said.
 
With ever stringent CO2 emission norms being implemented by authorities and regulators in Europe and China as well as the impending banning of fossil fuel vehicles in a number of countries, auto companies all around the world are trying to develop capacity and technology for manufacturing zero-emission models.
 
For example, the entire line up of Ford cars in Europe will be completely electric by 2023, the company said last month. On the other hand, its target to make its luxury Jaguar brand entirely electric by 2025 was also announced by the Tata Motors unit Jaguar Land Rover, which added that it has set a target of launching electric versions for its entire line up of cars by 2030.
 
In November last year, an announcement of making all its car models all electric by 2030w as made by the luxury carmaker Bentley, owned by Germany's Volkswagen, last November.
 
While developing technology and capacity for making electric cars is expensive, it is also expected that this transformation in eth global auto industry will also lead to loss of jobs because electric vehicles have fewer moving parts compared to the conventional fossil fuel powered vehicles.
 
There is likely to be loss of thousands of jobs in the company's powertrain plants in Germany, said the head of Daimler AG’s truck division last week.
 
In order to "radically reduce" the complexity of its model line-up and offer its customers highly transparent pricing, heavy investment will be made by Volvo in online sales channels, the company said.
 
The company will however retain its huge global network of 2,400 traditional bricks-and-mortar dealers for the purpose of servicing vehicles as well as aiding customers to make online purchase of cars.
 
(Source:www.investing.com)


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