Volvo said that it will exclusively sell electric cars by the end of the decade. Previously, Volvo announced it would make 50 percent of its sales electric by 2025.
The company is also set on reducing the leather, it will be gradual, they will use several different material alternatives, including sustainable vinyl and textiles. Volvo Cars have the ambition that by 2025, 25% of the material within our cars will be recycled and bio-based.
The car manufacturer did note that the new material is not vegan, as it features adhesives made with animal products.
The new strategy 2030 plans to completely transition to electric vehicles. Rather than traditional partnerships with independent retailers, Volvo said that it plans to sell electric vehicles directly to customers and dealerships alike by using an online portal.
This represents a significant change of pace for the nearly 100-year-old company, and Volvo chief executive Håkan Samuelsson emphasized the need for change moving forward.
“To remain successful, we need profitable growth,” said Samuelsson. “So instead of investing in a shrinking business, we choose to invest in the future – electric and online. We are fully focused on becoming a leader in the fast-growing premium electric segment.”Volvo's head of Europe Björn Annwall
At Volvo, our customers expect high levels of us when it comes to human safety and they are starting to expect exactly the same thing when it comes to planetary safety.”Volvo's head of Europe Björn Annwall
“We aim to live up to that, it's the right thing to do,”Volvo's head of Europe Björn Annwall
Volvo announced the brand-new, electric, C40 Recharge. It is the first model in the company's history to be designed as pure electric and it will also be leather-free.
Customers may have to pay more for a fully electrified car. But the company expects the overall cost of manufacturing electric cars to fall to that of traditional vehicles shortly.
There is no long-term future for cars with an internal combustion engine and say they are fully committed to becoming an electric-only carmaker by 2030.
The majority of automobile producers have now announced plans for full electrification, and Volvo's announcement follows similar pledges from Ford, Jaguar, Mercedes-Benz, and Volkswagen.