Starting with 2019, the Swedish carmaker will only produce electric or hybrid vehicles, hinting the company might give up on launching any more internal combustion engine cars.
According to Reuters, Volvo made the big announcement on Wednesday and, short story long the Swedish guys plan to introduce the electric and hybrid cars in all their ranges.
Volvo will become the first major carmaker who spills major details about the transition from internal combustion engines to electric cars although the news was not exactly shocking considering the Swedish started flirting with the idea almost a decade ago.
“This announcement marks the end of the cars with an internal combustion engine only”, Volvo Cars CEO Hakan Samuelsson mentioned in a statement.
All five new models to be launched by the group between 2019 and 2021 will be fully electric, of which two also bear the logo of the Polestar brand.
“The new models will be joined by a series of hybrid petrol and diesel for all models”, added Volvo.
Since the company was acquired by Ford’s Zhejiang Geely Chinese group in 2010, Volvo invested billions in new factories and new models, creating a niche in this premium market dominated by Mercedes-Benz and BMW.
Part of the strategy was the integration of emerging technologies for high-performance electric vehicles and autonomous cars.