Volvo Car produced its latest diesel car this week. Thus, the company ends one era and seeks to move on to the next – until 2030 it plans to produce only electric vehicles.
Volvo's latest diesel-powered car is the XC90 sports utility vehicle. It rolled off the assembly line at the Torslanda plant in Sweden on Tuesday evening. Volvo is phasing out diesel engine technology at a time when global demand for electric vehicles is cooling. At the same time, the company will still produce cars with gasoline engines.
“We are quite confident that we have a very good offer for customers even without diesel,” Erik Severinson, Volvo Car's chief executive responsible for new cars and operating strategy, said in an interview.
Other automakers have not strategically determined when they will stop working with internal combustion engines, and some have retreated from EV goals. Last month, Mercedes-Benz adjusted its forecast to shift exclusively to electric vehicles. Late last year, Audi said it was cutting back on electric vehicle production.
In 2017, Volvo Car became the first major automaker to commit to phasing out vehicles powered entirely by fossil fuels. Since then, the company has introduced several hybrid and all-electric models.
In the brand's main market of Europe, diesel vehicles peaked nine years ago, accounting for around half of new sales. Last year this figure fell to 14%. Demand for diesel cars fell after Volkswagen admitted in 2015 that it had equipped its diesel engines with software to cheat emissions tests.
Source: bloomberg
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