Here's everything you need to know.
In what has become an industry trend in recent weeks and months, Volvo has joined the likes of General Motors, Jaguar, and Ford of Europe by announcing its commitment to an all-electric future. The Swedish automaker long known for safety technology advancements will be fully electric by 2030.
Between now and then, the automaker will continue to launch new battery electrics alongside the already on sale XC40 Recharge. At the same time, hybrids and plug-in hybrids will be gradually phased out. Volvo sees the legislative writing on the wall and has decided to take the initiative, simple as that. In a related announcement, Volvo aims to move to an online-only sales model for its future EVs.
The automaker stresses this move will not only be more customer-friendly, but will also "radically reduce complexity in its product offer, and with transparent and set pricing models." The whole thing is being re-branded from the current Volvo Cars subscription service to Care by Volvo with additional major investments in online sales platforms to create better relationships between customers and dealers.
This does not mean Volvo showrooms will be shutting down. On the contrary, they're more important than ever for the customer experience and will always be responsible for vital services like preparing vehicle deliveries and servicing. Buying a Volvo EV online will include a so-called care package consisting of service, warranty, roadside assistance, and even insurance and home charging options.
Ordering a new Volvo will be made even easier with the option of selecting pre-configured vehicles, thus allowing for faster deliveries.
"To remain successful, we need profitable growth. So instead of investing in a shrinking business, we choose to invest in the future - electric and online," said CEO Hakan Samuelsson. "We are fully focused on becoming a leader in the fast-growing premium electric segment." By 2025, the automaker intends for half of its global sales to be EVs and the other half hybrids. Five years later those hybrids will be gone for good along with Volvo's reliance on combustion engines.