Goodbye Gas: Volvo to Make Only Electric Vehicles by 2030

(AP) -
A Polestar electric vehicle for export is seen in front of Volvo sport utility vehicles (SUVs) at a Geely plant in Taizhou, Zhejiang province, China. (REUTERS/Yilei Sun/File Photo)

Volvo says it will make only electric vehicles by 2030.

The Swedish automaker said Tuesday that it is phasing out the production of all cars with internal combustion engines — including hybrids.

“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, Volvo’s chief technology officer.

Volvo’s announcement follows General Motors’ pledge earlier this year to make only battery-powered vehicles by 2035.

Volvo also said that, while its all-electric vehicles will be sold exclusively online, dealerships will “remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling, preparing, delivering and servicing cars.”

As part of the announcement Tuesday, the Swedish automaker will unveil its second fully electric car, a follow-up to last year’s XC40 Recharge, a compact SUV. Volvo said its goal is to have half of its global sales to be fully electric cars by 2025, with the remaining half made up of hybrids.

Automakers around the world are ramping up production of electric vehicles as charging technology improves and governments impose stricter pollution regulations.