Volvo is pushing back its deadline to sell only electric vehicles, now saying it will rely on a mix of hybrids and battery electric vehicles. The company says it will achieve “net zero greenhouse gas emissions” by 2040.
Three years ago, the Swedish automaker made a commitment to only sell EVs by 2030. Since then, EV sales have exploded, but a recent slowdown in growth is leading many manufacturers to reconsider their pledges.
Volvo blamed the readjustment on a number of factors, including “slower than expected rollout of charging infrastructure, withdrawal of government incentives in some markets and additional uncertainties created by recent tariffs on EVs in various markets.”
Volvo is now among them, arguing that it will be a…