Volvo will ditch petrol and diesel power entirely and go all in on electric vehicles by the end of the decade, the brand has confirmed.
The electric-only by 2030 pledge confirmed officially by the brand overnight joins its existing plan to have electric vehicles (EVs) comprise 50 per cent of its sales by 2025.
According to the brand, the 2030 deadline represents an "acceleration" of its existing electrification roll-out, which will soon see every model in its Australian line-up employ mild-hybrid, plug-in hybrid or all-electric power only, with standard petrol and diesel engines to be phased out by July 2021.
"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 Håkan Samuelsson, CEO of Volvo Cars.
"We are fully focused on becoming a leader in the fast-growing premium electric segment."
"There is no long-term future for cars with an internal combustion engine," added Henrik Green, Chief Technology Officer at Volvo Cars.
"We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030. It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change."
Volvo's first electric vehicle, the XC40 P8 Recharge, went on sale in Europe across pandemic-stricken 2020, with an Australian launch slated for the second half of 2021.
A plethora of other zero-emission models will follow the C40 and XC40 P8, with five additional vehicles due by the middle of the decade (teased above) – likely including a cheaper, front-wheel-drive version of the electric XC40, and all-electric versions of the next-generation XC90, S90 and V90.
The brand has confirmed all Volvo electric vehicles will be sold exclusively online, intended to simplify the purchasing process by switching to a fixed pricing model, and offering a range of "pre-configured" (read: already in inventory) Volvo EVs available to order.
The existing Care by Volvo subscription service will also be expanded into a "broader customer offer aimed at increasing overall convenience."