Volvo Cars has recently unveiled an ambitious plan to sell only fully electric cars by 2030, marking a significant stride toward becoming a climate-neutral company by 2040. This transformative roadmap places Volvo among the pioneers in the legacy car industry’s shift towards comprehensive electrification.
To underscore their unwavering commitment to this eco-friendly vision, Volvo has announced the cessation of production for all diesel-powered car models by early 2024, as revealed during Climate Week NYC. This announcement positions Volvo Cars as one of the trailblazers in the industry, making them among the first legacy car manufacturers to take such a decisive step.
This pivotal moment follows Volvo Cars’ strategic decision to withdraw from the development of new combustion engines. In a move demonstrating their dedication to a sustainable future, the company divested its stake in Aurobay, a joint venture housing its remaining combustion engine assets, back in November 2022. Since then, Volvo Cars has refrained from allocating any portion of its research and development budget to the creation of new internal combustion engines.
Volvo’s commitment to electrification traces back to 1972 when the company acknowledged its products’ negative environmental impact at the United Nations’ first Environment Conference in Stockholm. Fast forward to the present, and the urgency of the climate crisis is highlighted by the United Nations’ Global Climate Stocktake report, emphasizing the need for immediate action.
Underlining their dedication, Chief Sustainability Officer Anders Kärrberg participated in an event organized by the Accelerating to Zero (A2Z) Coalition during the 2023 Climate Week NYC. The A2Z Coalition, launched at the COP27 climate summit, provides a platform for signatories of the Glasgow Declaration on Zero Emission Vehicles, aligning with Volvo Cars’ commitment to making 100% of global new car and van sales free of tailpipe emissions by 2040, with leading markets achieving this target no later than 2035.
While Volvo Cars’ electrification goal surpasses this collective target, the company aspires to inspire other companies to take bolder actions against climate change. The decision to completely phase out diesel-powered vehicles by early 2024 underscores the rapid evolution of both the car industry and consumer preferences in response to the climate crisis.
A mere four years ago, diesel engines were the backbone of Volvo Cars’ sales in Europe, as was the case for many other car manufacturers. However, the landscape has dramatically shifted, with electrified cars—either fully electric or plug-in hybrid—now constituting the majority of Volvo Cars’ sales in Europe. This transformation is driven by shifting market demands, stricter emission regulations, and the company’s unwavering focus on electrification.
Beyond reducing carbon emissions, this transition also contributes to improved urban air quality. While diesel engines emit less CO2 than petrol engines, they release more gases such as nitrogen oxide (NOx), which can have detrimental effects on air quality, especially in densely populated areas. Volvo’s decisive move aligns with a broader industry trend, demonstrating the essential role of sustainability in shaping the future of transportation.
