The Swedish multinational manufacturing company VOLVO , has said that by 2030 it will only sell electric cars .
The company will completely discontinue the manufacturing of all the combustion engines including the hybrid vehicles.
VOLVO will be introducing a new line of electric cars and will unveiling its battery only model.
In a statement the company said that the electric vehicles manufactured by VOLVO will only be available for purchase through online.
Henrik Green, The chief technology officer of VOLVO said:
“ The company needed to switch focus there is no long-term future for cars with an internal combustion engine.”
Purchasing cars online means, customers will be able to order cars to their own specified place, but it will be through a dealership.
Previous month, Volvo deserted the plans to merge with the Chinese car company Geely.
Both the companies said that they would form a partnership to build components for electric cars that could used by both the companies.
Hakan Samuelsson, The Chief Executive Officer of VOLVO said:
“We choose to invest in the future electric and online,”
“We are fully focused on becoming a leader in the fast-growing premium electric segment.”
Worldwide carmakers continue to pursue alliance so that they can split the cost of transition to electric cars. Tougher emission rules, clubbing expertise and resources.
Earlier this year shareholders approved a merger between France’s PSA Group and Fiat Chrysler creating the world’s fourth biggest carmaker.
The analysts say that the new group Stellantis would be able to bet big on innovations in electric, connected and autonomous vehicles.
VOLVO’s counterparts General Motors Co, Jaguar Land Rover,
and Volkswagen AG are in plans to announce about their offerings in the electric vehicles.
