Volvo reconsiders hybrids amid cooling electric car demand – report

The Swedish brand now says hybrids could be a good transition option for some buyers, as 2030 electric-only target is thrown into doubt.

Volvo is reportedly dialling back its target of going fully-electric by 2030, pivoting instead to hybrids as demand for electric vehicles (EV) slows.

With EV sales softening in key markets such as the US and China, the Swedish brand is now considering updating its existing SPA1 platform – which supports mild- and plug-in hybrid versions of its XC90 and XC60 SUVs – to focus more heavily on hybrid technology, according to Automotive News.

According to the publication, Volvo CEO Jim Rowan said in a recent quarterly investor webcast he’s a “huge believer in electrical propulsion”, saying it is a better technology than the internal combustion engine.

“[Hybrids] form a solid bridge for our customers that are not ready to move to full electrification,” Rowan said on 18 July. 

“Our plug-in hybrids and mild hybrids remain very strong and popular with our customers, and we will continue to invest in this lineup.”

MORE: Electric cars Australia: Cheapest, best and newest electric vehicles (EVs) and hybrids 

Sources familiar with the company’s plans told Automotive News that for the next decade Volvo will focus on supplying plug-in hybrids, while the EV market matures in the US and elsewhere.

In fact, they said, Volvo dealers in the US expect to be selling petrol-powered hybrid cars well into the 2030s.

It’s a sharp U-turn from Chief Commercial Officer Bjorn Annwall’s declaration last year that the automaker would not “sell a single car” globally that is not fully-electric after 2030 as Europe prepares for a ban on the sale of internal combustion engine models, due to come into force by 2035.

“There’s no ifs, no buts,” Annwall told the media outlet in June 2023.

Indeed, boss Jim Rowan said as recently as May this year that he was “confident” that Volvo can hit its target of becoming a fully-electric car company by 2030.

While consumer demand for electric vehicles has softened in some markets, Rowan said the premium sector “is very different to the mass market”, where households often have two cars – and may have both an internal combustion engine car and an EV. Plus, they often have access to their own charging infrastructure.

“So the barriers to adoption are much less,” said Rowan.

In Australia, Volvo currently sells three fully-electric vehicles – the C40 Recharge, XC40 Recharge and EX30. It also offers plug-in hybrid (PHEV) T8 versions of the XC90 and XC60 models – as well as the rest of its range as mild hybrids.

It’s not yet known how the swing to hybrids will impact the marque in Australia, with an even more imminent electric-only target of 2026 set for the local market.

A spokesperson for Volvo Australia told Drive: “Our local all-electric aspirations continue. We are a very nimble company that can react to market conditions and consumer demands and we constantly evaluate global sentiments and trends.

“Whilst the transition (globally) will not be a linear development, we firmly believe electrification is the future.”

In Europe, the EX30 quickly became the third-best selling electric vehicle behind the Tesla Model Y and Model 3, with its EX90 and EM90 models also expected to be popular. 

Meanwhile, production of the new EX30 is now in full swing. “We immediately saw [the EX30] become the third-best-selling EV in Europe behind the Tesla Y and the Tesla 3. So that is a great start for that car, and demand is strong,” said Rowan.

“When you wrap all of that together… then I think it is more than possible for us to reach that ambitious target of 50 per cent [fully-electric sales] by 2025. And then you go onto 2030, we’ve got another five years,” Rowan said earlier this year.

However, demand for Volvo’s hybrid models also remains strong. Its XC60 PHEV was Europe’s best-selling model in the first quarter of 2024.

“With the XC60 we have very good distance on it – it can drive 70-80km in pure electric mode. For consumers who can charge overnight or at work, that is typically what you need for the daily commute. We see that from the statistics: people are using those cars more as electric cars than as ICE cars – more than 50 per cent of the energy comes from charging with electricity,” he added.

The news comes from Volvo as a number of other car makers also wind back on their EV-only ambitions, with the likes of Aston Martin, Volkswagen and Mercedes having re-evaluated their plans in recent months. 

The post Volvo reconsiders hybrids amid cooling electric car demand – report appeared first on Drive.

Komentar

Posting Komentar

Postingan populer dari blog ini

Teacher accused of using rented Toyota Supra for land-speed record attempt

Gambar
A high-school teacher in the US could be more than $6000 out of pocket if he is found to have violated the terms of use of a rented Toyota Supra driven to a top speed record. A US high school teacher is facing legal action – and $US4000 ($AU6000) in costs – after being accused of renting a turbocharged Toyota Supra performance coupe from a car-sharing service and used the vehicle in a racing competition without the owner’s knowledge. The high-school teacher from Indiana – and his team of female mechanic students – were on their way to compete in the 2023 U.S. Mile land-speed trials in Texas last month. The girls and their teacher had built a high-performance Chevrolet S10 pick-up for the ‘Texas Mile’ – a competition which sees vehicles try to achieve the highest possible speed from a standing start within one-mile (1.6km) on a runway. However, the 1997 Chevrolet S-10 ute suffered a mechanical failure on the way to the event. Due to the hard work put in to make the 1800km j...
Baca selengkapnya

2023 Toyota HiLux GR Sport imagined with this artist impression

Gambar
The new flagship of the Toyota HiLux range was caught on camera in Thailand late last year wearing little disguise. Now we have created an artist impression of what it could look like. Last month we got our first look at a camouflaged version of the 2023 Toyota HiLux GR Sport , the flagship ute set to replace the range-topping Toyota HiLux Rugged X in Australian showrooms later this year. Now we have an artist impression of the 2023 Toyota HiLux GR Sport (pictured above) that aims to remove some of the camouflage of the test vehicle caught on camera in Thailand mid-December 2022. As previously reported, although other versions of the Toyota HiLux GR Sport have been launched in Europe, South Africa and Japan over the past year or so, the 2023 edition appears to be the most aggressive yet. The latest Toyota HiLux GR Sport is set to come to Australia for the first time, though timing of the international unveiling and showroom arrivals are yet to be announced. A series ...
Baca selengkapnya

2023 LDV T60 Max price and specs: Prices up by more than $4000

Gambar
The LDV T60 has been hit with its second major price rise in 12 months to account for new equipment – but the ute still lacks key advanced safety tech. 2023 LDV T60 Max pricing and specifications New equipment for Pro and Luxe grades Only top 10 dual-cab ute without auto emergency braking Priced from $38,990 drive-away for ABN holders 2023 LDV T60 Max Luxe The updated 2023 LDV T60 Max has arrived in Australia with a $4000 price rise and some equipment upgrades – but it still lacks advanced safety technology which is standard in its rivals. LDV Australia has announced the T60 Max 4×4 ute has undergone a handful of tweaks for 2023 after its major facelift (and $5000 price hike) last year – resulting in a price increase of $4000 across the range for buyers with an ABN. But Australia’s ninth best-selling ute continues to forgo advanced safety tech such as forward collision warning, blind-spot monitoring and autonomous emergency braking – making the T60 the the only du...
Baca selengkapnya