Volvo will go fully electric globally by 2030, no ‘no ifs, no buts’

“Volvo will not sell a single car that is not full-electric after 2030, regardless of market,” the brand’s chief commercial officer, Björn Annwall, said on the sidelines of a launch event here for its newest EV.

“There’s no ifs, no buts.”

But that all-in strategy could cost Volvo sales in markets such as the United States, which remains skeptical of battery-powered vehicles because of range anxiety and inadequate charging infrastructure.

Last year, EVs accounted for just 5.8 percent of new-car sales in the U.S., according to Guidehouse Insights. The consulting firm expects that share to grow to at least 27 percent by 2030.

“There might be a few markets where we lose a little bit of sales,” Annwall conceded. But focusing financial and human resources on a single powertrain technology gives Volvo the best shot at producing the most compelling EV products, he said.

“We would give up a lot of growth if we didn’t focus on battery” vehicles, Annwall said. “Last time I looked, that’s a very strong growing market, and ICE is a shrinking market.”

“To be successful, you should focus on the growing part of the market.”