15:01 - 5.09.2024

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September 5, Fineko/abc.az. Volvo Cars abandons its previously-set goal on switching to production of exclusively electric vehicles by 2030. Now the automaker expects that by this time over 90% of global sales will be electric vehicles, the company says.

ABC.AZ reports that the reason for revision of plans relates to changed market conditions and consumer demand. "Obviously, transition to electrification will not be linear, and customers and markets will move at different speeds," Jim Rowan, head of Volvo Cars, is quoted in the press release as saying.

According to the Swedish industry organization of manufacturers & importers of passenger cars, trucks and buses Mobility Sweden, 5,516 new electric vehicles were registered in Sweden in July of this year, which is almost 15% less than in July 2023. In total, their number decreased by about 19% in the first six months of 2024.