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 Energy

09 Mar 2026

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..

Flender launches India’s largest wind gearbox test rig in Walajabad

Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the largest installation of its kind in India. The new facility is expected to strengthen the company’s manufacturing and testing capabilities while supporting the growing demands of the wind power sector in both domestic and global markets.The test rig was inaugurated on March 5 in the presence of Andreas Evertz, Group CEO, Flender; Lars Wiegemann, Vice President Wind Gears, Flender; and Vinod Shetty, CEO, Flender India, along with key industry customers and stakeholders.The insta..