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Geely's Volvo to Go All Electric With New Models From 2019

posted by martyb on Thursday July 06 2017, @12:16AM   Printer-friendly
from the self-serving-plug? dept.

Fnord666 writes:

All Volvo car models launched after 2019 will be electric or hybrids, the Chinese-owned company said on Wednesday, making it the first major traditional automaker to set a date for phasing out vehicles powered solely by the internal combustion engine.

The Sweden-based company will continue to produce pure combustion-engine Volvos from models launched before that date, but its move signals the eventual end of nearly a century of Volvos powered solely that way.

While electric and hybrid vehicles are still only a small fraction of new cars sales, they are gaining ground at the premium end of the market, where Volvo operates and where Elon Musk's Tesla Motors has been a pure-play battery carmaker from day one. As technology improves and prices fall, many in the industry expect mass-market adoption to follow.

"This announcement marks the end of the solely combustion engine-powered car," Volvo Cars CEO Hakan Samuelsson said.

The company, owned by Zhejiang Geely Holding Group, said five new models set to be launched in 2019 through 2021 - three of them Volvos and two Polestar-branded - would all be fully electric.

"These five cars will be supplemented by a range of petrol and diesel plug in hybrid and mild hybrid 48-volt options on all models," Volvo said. "This means that there will in future be no Volvo cars without an electric motor."

Source: Reuters

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  • (Score: 2, Insightful) by khallow on Thursday July 06 2017, @12:05PM (2 children)

    by khallow (3766) Subscriber Badge on Thursday July 06 2017, @12:05PM (#535681) Journal

    Musky? Brains and vision? Well he has a vision of people giving him money and enough cunning in his brains to run a good con, but the fanboy adulation is totally misplaced.

    The excessive skepticism is just as misplaced. I'll note that Tesla has already is the largest new independent car manufacturer in the US auto industry since AMC (American Motors Company) closed shop in 1987. There's a similar story with SpaceX. He's managed to move into supposedly very mature and competitive markets twice and create companies with significant capacity and business.

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  • (Score: 2) by realDonaldTrump on Thursday July 06 2017, @12:56PM (1 child)

    by realDonaldTrump (6614) on Thursday July 06 2017, @12:56PM (#535693) Homepage Journal

    And banking, he made a very big move into banking. Opened a cyber bank. That was his big break (I love Big Break!). When you're a banker, they let you do what you want. 🇺🇸

    • (Score: 1) by khallow on Thursday July 06 2017, @01:04PM

      by khallow (3766) Subscriber Badge on Thursday July 06 2017, @01:04PM (#535695) Journal
      That could be argued as a move into a new sector, "cyber-banking" which is why I didn't count PayPal.