Volvo Cars is investing wholeheartedly in electric cars – and is showcasing the new C40

Volvo Cars pulls the brakes when it comes to the production of cars with internal combustion engines. By 2030, the company will only sell electric cars and the models will only be sold online.

(The text is updated)

The new business strategy is an update from an earlier goal that half of Volvo’s car fleet by 2025 will be pure electric cars and other so-called hybrid variants. It comes at the same time as the company chose to showcase its new venture for the first time, an electric car with the model designation C40.

– We can state that more and more people are positive about electrification and I am completely convinced that the development will go faster and faster. That is why we are now moving our ambitions forward, says CEO Håkan Samuelsson in connection with a press conference this morning.

A system change

Volvo Cars is now far from alone in the system change. The American electric car manufacturer Tesla has reaped great success in recent years and more and more players have followed suit. Volkswagen has launched several electric cars and two weeks ago the American car giant Ford announced that it will invest one billion dollars in a factory in Cologne, Germany, with the intention that all sales in Europe in 2030 will only consist of electric cars.

A challenge that is raised, however, is the charging infrastructure itself. Tesla has relied on its own charging network, while BMW, Volkswagen and several other players have joined forces in a charging network, Ionity. According to Håkan Samuelsson, something like this is more relevant than its own Volvo network.

– It is long-term what I think customers are asking for. I do not usually refuel at a petrol station chain, but refuel where a petrol station appears.

On Tuesday, Volvo Cars presented its new electric car Volvo C40 Recharge. Photo: Claudio Bresciani / TT

When asked if the change in exchange rate does not mean lost market shares around the world, Samuelsson answers:

– We do not expect to lose any markets. Then it will go different speeds. Those who first switch to electric cars are those who have their own charging options and if you live far up north, then you will probably be among the last to switch to pure electricity.

Simplified buying process

For future customers, the purchase process itself must also change. From model year 2022, all electric cars will only be sold via Volvo’s own website. According to Håkan Samuelsson, by primarily offering a number of predefined models, it should be possible to reduce the waiting time and simplify the process itself.

– Now it can be perceived as complicated and many do not appreciate that there are 50 different solutions. This will increase the opportunity for us and retailers to be more efficient, says Håkan Samuelsson.


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