Volvo will end diesel vehicle production as of 2024. This decision shows that the automotive industry is changing rapidly in the face of the climate crisis.
While until 2019 most of Volvo's vehicles sold in Europe were powered by diesel power, the situation was the same for many automakers. Electric vehicles made up a very small percentage of sales. However, this trend has reversed. Today, most of Volvo's vehicles have either a fully electric or a plug-in electric hybrid powertrain.
In addition to ending production of diesel vehicles, Volvo aims to be fully electric by 2030 and plans to be climate neutral by 2040. These targets are a result of Volvo's decision last November to sell its stake in Aurobay, a joint venture that includes all its internal combustion engine assets. That's why Volvo no longer spends money developing gasoline or diesel engines.
Speaking at the Climate Week event in New York, Volvo Cars CEO Jim Rowan stated that the company is focused on producing fully electric luxury vehicles. “Electric powertrains are our future and are superior to internal combustion engines. “They produce less noise, less vibration, less maintenance costs for our customers and zero exhaust emissions,” he said.
