Volvo Shifts Focus from its EV-Only Target; Read Here

The Swedish automaker Volvo has now officially announced that it won’t focus on its EV-only target, as it was targeting to make all-electric vehicles go on sale by 2030. In addition to that, the company was earlier aiming to sell 90-100 per cent of fully electric or plug-in hybrid models, while 10 per cent would be mild-hybrid vehicles. 

Also Read: Compromise to Compensate: The Other Side of EVs

In fact, the majority of automobile manufacturers have indicated withdrawing from their EV plans, owing to the less availability of affordable electric models and the not-so-fast rollout of charging infrastructure across the world. At the same time, the manufacturers have also been preparing themselves for the new European tariffs on made-in-China electric vehicles. 

More so, in a separate statement made by Volvo, the company stated that the plug-in hybrid Volvo cars would play a significant role in growing the automaker’s future. The carmaker also recently unveiled the hybrid-based 2024 XC90 facelift, which is available in both mild-hybrid and PHEV versions.

For those unaware, the XC90 is Volvo’s flagship SUV and its new iteration will delivered to the first customers by the end of this year, but in the international markets. 

Currently, the company has a mixed portfolio, as it sells both pure EVs and hybrid-based cars. However, there are selected Volvo EVs that are available - the XC40 Recharge, C40 Recharge, EX30 and the EX90. All of them are placed under the SUV category. 

Lastly, the only feasible option in terms of sustainability, affordability, and peace of mind (among customers) is to expand the portfolio of hybrid cars. Additionally, the company initially planned to phase out hybrids in favour of EVs - but now they have scrapped their initial plans. 

Verdict

In our opinion, the company has made a wise decision to focus on hybrids over EVs because the latter has many downsides despite having the ‘zero-emission’ title. More importantly, owners of hybrid vehicles are not vulnerable to the “range anxiety” issue. 

SOURCE