Swedish automaker Volvo Cars said on Wednesday that it is scrapping its goal of going fully electric by 2030 as the electric vehicle (EV) market continues to struggle.
The company announced it now aims for between 90% and 100% of its cars to be fully electric or plug-in hybrids by the end of the decade, with the remainder being “mild,” non-plug-in hybrids, a company press release stated. Volvo’s backpedaling comes amid lower-than-expected consumer demand for EVs and a recent industry shift away from electrification. (RELATED: REPORT: $84 Billion Worth Of Biden-Subsidized Manufacturing Projects Floundering)
“While Volvo Cars will retain its position as an industry leader in electrification, it has now decided to adjust its electrification ambitions due to changing market conditions and customer demands,” the company wrote. “The strategic adjustments to its electrification ambitions ensure that Volvo Cars has a flexible plan that meets customer preferences and enables value creation as a business.”
Volvo has ditched plans to sell only electric cars by 2030 amid waning demand for battery powered vehicles.
Another big manufacturer ditching EV plans. #CostOfNetZero
👉https://t.co/i7qPgRbjLx pic.twitter.com/AMlxhyAKwv
— Net Zero Watch (@NetZeroWatch) September 4, 2024
“We are and will remain an industry leader in electrification and nearly half of our global sales are either fully electric or plug-in hybrids,” a Volvo spokesman told the DCNF. […]
— Read More: wattsupwiththat.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
