Rowan feels that continuing to invest in both technologies concurrently will result in missed opportunities in the market.
It is quite easy for Volvo to speak down to its competitors considering just how aggressive its EV adoption plan is. It has committed to being fully electric by 2030.
"The big problem with industry transitions is if you don't invest ahead of the curve, then you miss that inflection point, and you're not ready for when the market changes," he says.
Volvo has positioned itself well to share technologies with other Geely-owned automakers like Polestar. It has already unveiled the EX90 and plans to release numerous variations.
To achieve price parity on EVs by 2025, Volvo is looking to partner with mines to acquire lithium, since battery backlogs are the main thing holding EV production back.