THE EV LIE: THIS IS WHY YOU SHOULD BUY A HYBRID IMMEDIATELY

Volvo has effectively withdrawn from its pledge made four years ago to fully transition to electric vehicles (EVs) by 2030. With EV market growth falling short of expectations, the company has now set a revised goal: shifting 90–100% of its total sales to electrified vehicles, combining plug-in hybrids (PHEVs) and EVs.

Volvo has already halted diesel production and signaled the eventual end of gasoline engines. In an interview with Bloomberg, CEO Håkan Samuelsson stated, "The auto industry has no choice but to move toward electrification. Within 10 years, all cars will be electric, and EV prices will also fall."

Strategy Shift Amid Weak EV Sales

The numbers paint a challenging picture. From January to August this year, Volvo sold 90,326 pure EVs, down 24% from the same period last year. PHEV sales also dipped 1% to 107,380 units. Sales of gasoline and mild hybrid models dropped 7% to 253,376 units. Overall, total sales fell 10% year-on-year to 498,464 units.

Samuelsson emphasized the importance of expanding long-range PHEVs or range-extended EVs that use an engine as a generator. He described PHEVs as "electric cars with a backup engine." This aligns with Geely, Volvo’s parent company, and its joint "Horse" project with Renault.

"Chinese Brands Will Emerge as Dominant Players"

Samuelsson also predicted inevitable industry restructuring: "Only companies that adapt will survive; those that cannot will be eliminated." He added that by around 2035, when the EV era is in full swing, "two or three powerful Chinese brands will seize global leadership."

Different Voices in Europe

Volvo and Polestar continue to support the EU’s policy of banning new internal combustion vehicle sales by 2035, but German premium brands remain doubtful. BMW refuses to abandon combustion engines, while Mercedes has warned that "a 2035 ban would collapse the European auto industry." Audi and Porsche also maintain that going "all-in on EVs" is premature.

Polestar recently criticized rivals at the Munich IAA Mobility Show, quoting their earlier "100% EV" pledges and mocking them for failing to deliver.

This Friday, top auto executives, including Mercedes CEO Ola Källenius, are scheduled to meet with European Commission President Ursula von der Leyen in Brussels to discuss the 2035 internal combustion ban.

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2025-11-03T08:22:37Z