This makes Volvo the first traditional carmaker to fully embrace electrification.
“This is a clear commitment towards reducing our carbon footprint as well as contributing to better air quality in our cities,” Håkan Samuelsson, president and chief executive, said. He then stated goals of selling 1 million electrified cars by 2025.
The company will still produce older Volvos with pure combustion engines after 2019, but its latest move signals its eventual phasing out conventional gas guzzlers. As the New York Times noted, other major car manufacturers have introduced EVs or hybrids to their line but none have entirely ditched making new cars powered solely by gasoline or diesel fuel.
“This is about the customer,” Samuelsson added. “People increasingly demand electrified cars and we want to respond to our customers’ current and future needs.”
The automaker is based in Sweden but is owned by China’s Geely Automobile Holdings, which produces electric vehicles for China, a major market for battery-powered cars.
Volvo said it will launch five fully electric cars between 2019 and 2021. The rest of its fleet will comprise of plug-in hybrid cars and mild hybrid cars.