Volvo Cars is taking a significant step towards its goal of becoming a climate-neutral company. By 2030, the company plans to sell only fully electric cars, and by 2040, it aims to achieve complete climate neutrality. At Climate Week NYC, Volvo Cars declared that it will stop producing diesel-powered car models by early 2024. This move makes Volvo Cars one of the first traditional car manufacturers to take such a decisive action in favor of electric vehicles.
This milestone follows Volvo Cars’ decision in 2022 to stop developing new combustion engines. The company sold its stake in Aurobay, a joint venture that held its remaining combustion engine assets. Volvo Cars is now fully committed to electric powertrains and has ceased investing in the development of new internal combustion engines.
Volvo Cars’ Chief Executive, Jim Rowan, expresses the advantages of electric vehicles over combustion engines. Electric powertrains generate less noise, less vibration, and create zero tailpipe emissions. In addition, they require less servicing costs for customers. The company is focused on creating a diverse range of premium, fully electric cars that meet the expectations of Volvo customers while contributing to the fight against climate change.
In response to the urgent need for action highlighted by the United Nations’ Global Climate Stocktake report, Jim Rowan emphasizes the importance of strong leadership from industry and political leaders in combating climate change. Volvo Cars is committed to doing its part and calls on peers and political leaders worldwide to join in the effort.
As a demonstration of its commitment, Volvo Cars’ Chief Sustainability Officer, Anders Kärrberg, will participate in an event organized by the Accelerating to Zero (A2Z) Coalition during this year’s Climate Week NYC. The A2Z Coalition, launched at the COP27 climate summit, brings together signatories of the Glasgow Declaration on Zero Emission Vehicles. The coalition aims to ensure that all new car and van sales are free of tailpipe emissions by 2040, and no later than 2035 in leading markets. Volvo Cars’ electrification target is even more ambitious, and the company hopes to inspire other companies to take bolder actions against climate change by phasing out diesel cars and engaging in discussions at Climate Week NYC.
Volvo Cars’ decision to end diesel production by 2024 reflects the rapidly changing landscape in the automotive industry and evolving customer demand in response to the climate crisis. Just a few years ago, diesel engines were the mainstay in Europe, but now electrified models, including fully electric and plug-in hybrid cars, dominate the market. This shift is driven by changing market demand, stricter emission regulations, and Volvo Cars’ focus on electrification. Additionally, reducing the number of diesel cars on the road has a positive impact on urban air quality, as diesel engines emit more harmful gases like nitrogen oxide (NOx) compared to petrol engines, affecting air quality particularly in congested areas.