Volvo Cars Abandons 2030 Fully Electric Vehicle Goal

06 Sep 2024 CW Team

Volvo Cars announced that it would not meet its goal of becoming fully electric by 2030, adjusting its target to between 90 and 100 percent electrification. The company attributed this change to several factors, including a slower-than-anticipated rollout of charging infrastructure, the withdrawal of government incentives in some markets, and uncertainties caused by recent tariffs on electric vehicles in various regions.

Despite these challenges, Volvo Cars emphasized that full electrification remains a crucial part of its product strategy. However, due to evolving market conditions and shifting customer demands, achieving this by 2030 would not be feasible. The automaker had originally outlined its ambition to go fully electric in 2021 but has now revised its plan to allow for the possibility that 0 to 10 percent of its sales may still include mild hybrid models, if necessary.

Currently, Volvo Cars offers five fully electric models, with another five in development. The company projects that electrified vehicles will constitute between 50 and 60 percent of its lineup by 2025, with a complete range of fully electric cars expected to be available well before the end of the decade. Volvo Cars stated that this timeline would allow it to transition to full electrification when market conditions become favorable.

During the second quarter of 2024, Volvo's share of fully electric vehicles reached 26 percent, the highest among its premium competitors.

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..