Statements by Volvo’s CEO, Jim Rowan, have raised questions about the company’s commitment to electric vehicle production. Volvo was among the first car manufacturers to announce plans to switch entirely to electric vehicles by 2030, aiming to reduce its carbon footprint and contribute to a sustainable future.

In March 2021, Volvo’s former CEO Håkan Samuelsson and current Chairman of Polestar reiterated the company’s commitment to luxury electric vehicles. Henrik Green, former Chief Technology Officer at Volvo, also stated there is no long-term future for internal combustion engine vehicles, with expectations that 50% of sales would be electric by 2025 and reaching 100% by 2030.

Volvo already has a strong lineup of electric vehicles, including the EX30 and EX90, and plans to launch the first luxury electric minivan, the EM90, in China.

Jim Rowan confirmed his strong belief in electric propulsion but indicated that a complete transition might take longer in some regions, with hybrid vehicles serving as a “strong bridge” toward full electrification.

Volvo’s electric vehicle sales in the U.S. declined by 74% in the first half of 2024, while they rose by 80% in Europe and 49% in other markets outside the U.S., Europe, and China.

Volvo sold 90,760 fully electric cars globally in the first half of 2024, a 53% increase from the previous year. Some Volvo dealers in the U.S. expect to continue selling hybrid cars after 2030.

These comments come as other companies like Ford, General Motors, and Hyundai announce plans to use hybrid cars as a bridge to full electrification. Despite reports of declining electric vehicle sales, the market continues to grow, with electric vehicles accounting for over 20% of global car sales this year, according to the International Energy Agency.