Volvo Shelves Plan To Make Only Electric Vehicles By 2030

9/13/2024 2:23:03 PM

(MENAFN- Investor Brand Network) Volvo has announced that it is
shelving
its plan to rapidly electrify its product line until it is only manufacturing electric cars by 2030. The ambitious electrification plan would have seen Volvo ramp up electric vehicle production and wind down the production of fossil fuel vehicles over the next several years until, by the end of the decades, those types of vehicles were completely eliminated from the automaker's lineup.

Volvo first announced the target three years ago, but the automaker says“changing market conditions” have forced it to go back to the...

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