The company will continue to produce pure combustion-engine Volvos from models launched before that date.
“We are reacting to customer demand asking for electrified cars,” Håkan Samuelsson, president and chief executive of the Gothenburg-based company, said during a press conference held today. “This announcement marks the end of the solely combustion engine-powered car.”
Volvo has invested heavily in new models and plants since being bought by Zhejiang Geely Holding Group in 2010, establishing a niche in a premium auto market dominated by larger rivals such as Daimler's Mercedes-Benz and BMW.
The decision follows the recent announcement that Volvo Cars will turn its Polestar into a new separately-branded car company focused on high-performance electric cars aimed at competing with Tesla and the Mercedes AMG division.
For additional information:
