Volvo backtracks on electrification and carbon reduction goals

Volvo Cars has overhauled its electrification and carbon reduction goals, adjusting its original plan to become a fully electric car manufacturer by 2030.

The revised strategy now allows up to 10% of sales to include mild hybrid vehicles, with plug-in hybrids making up the remainder of the mix, citing challenges in the broader automotive market's shift to electrification.

Initially set in 2021, Volvo's goal was to transition entirely to electric vehicles (EVs) by 2030, eliminating internal combustion engines (ICEs) from its lineup, including hybrid models.