Volvo to make only electric vehicles by 2030

STOCKHOLM: China-owned Volvo Cars said on Tuesday it plans to only sell fully electric cars as of 2030, seeking to cash in on the premium electric market, the fastest-growing segment in the global market.

All models with an internal combustion engine, including hybrids, would be phased out. “There is no long-term future for cars with an internal combustion engine’’, said Henrik Green, technology officer.

The 2030 target was “driven by strong demand for its electrified cars in recent years and a firm conviction that the market for combustion engine cars is a shrinking one.” — dpa