Volvo Car Australia to go fully electric by 2026, four years earlier than global target
Volvo Car Australia has today announced that from 2026 it will only sell fully electric cars in Australia - four years earlier than the parent company's 2030 global target.
"Globally, Volvo is firmly committed to becoming an electric-only carmaker by 2030, but in Australia we will make the transition happen by 2026," said Stephen Connor, Managing Director of Volvo Car Australia.
"The earlier deadline will allow us to meet the expectations of our Australian customers and be a part of the solution when it comes to fighting climate change. Sustainability is now as important as safety to us, with climate action having the highest priority.
"Volvo Cars has one of the most ambitious climate plans in the car industry which involves consistently reducing the life cycle carbon footprint per car through concrete action.
"Australian consumers are early adopters of new technologies, and they are embracing fully electric cars in increasing numbers as part of a practical response to combatting climate change.
"There is no long-term future for cars with an internal combustion engine. So, instead of investing in a shrinking business, we choose to invest in the future, which is fully electric."
Mr Connor said by 2025 nearly 80 per cent of Volvo's Australian sales will comprise fully of electric models.
"The decision to sell only electric cars from 2026 makes perfect sense, and we believe it will give us a strategic advantage in the Australian market. The final piece of the jigsaw will be converting the last 20 per cent of our customers to a fully electric future from 2026.
"I am very confident we can achieve this, and even go beyond to achieve our aspiration of selling 20,000 fully electric cars every year in Australia."
Volvo is currently the fastest growing brand in the Australian luxury SUV segment, clocking up record sales for the past four years. Last week it launched the C40 Recharge Pure Electric, the first dedicated electric only vehicle model for the Australian market.
The C40 Recharge Pure Electric is available with a single electric motor and front-wheel drive, while the variant with dual electric motors comes with all-wheel drive. It is also the first Volvo to be completely leather-free.
Volvo Cars in 2021
Volvo Car Group recorded an operating profit of 20.3 BSEK. Revenue in 2021 amounted to 282.0 BSEK, while global sales reached 698,700 cars.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under
the ticker "VOLCAR B".
Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
As of December 2021, Volvo Cars employed approximately 41,000 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US) and Shanghai (China