First major automaker to go all-hybrid, all-electric.
Heinz-Peter Bader/Reuters
Automaker Volvo says all of its cars launched starting in 2019 will be either electric or hybrids. The decision makes Volvo, which is now owned by Chinese company Geely, the first major auto manufacturer to discontinue its production of gas-only vehicles. The company plans to release three new all-electric cars by 2021. “This announcement marks the end of the solely combustion engine-powered car,” Volvo Cars CEO Hakan Samuelsson said. “Volvo Cars has stated that it plans to have sold a total of one million electrified cars by 2025. When we said it, we meant it. This is how we are going to do it.” Hybrid and electric vehicles are now just a fraction of new-car sales, but premium-market models are building enough momentum that experts say mass-market adoption will follow as the technology develops and prices drop.
