Volvo Cars said on Tuesday that it will end production of any remaining diesel models by early 2024 as it heads towards becoming an all-electric carmaker.
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    1•1 year ago

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    LONDON, Sept 19 (Reuters) - Volvo Cars (VOLCARb.ST) said on Tuesday that it will end production of any remaining diesel models by early 2024 as it heads towards becoming an all-electric carmaker.

    Majority owned by China’s Geely (0175.HK), Volvo has committed to going fully electric by 2030.

    While a majority of the cars Volvo sold in Europe were diesel as recently as 2019, in 2022 they made up just 8.9% of the Swedish carmaker’s sales.

    In August 33% of Volvo’s sales were fully-electric or hybrid models.

    The company did not break out how many of the remaining 67% combustion-engine models were diesel and how many ran on petrol.

    Sales of diesel models have declined rapidly in Europe since Volkswagen’s (VOWG_p.DE) emission-cheating scandal and carmakers have been gradually reducing the number of diesel models available in their model lineups.

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