Where Does Electricity Come From?
(A: Mostly from burning fossil fuels like coal, natural gas, and petrol.)
“Volvo Cars ditches pledge to sell only electric cars by 2030,” announced Kana Inagaki for the Financial Times on September 4. “Demand for battery-powered vehicles has decreased globally over concerns about cost and charging infrastructure.”
Volvo is only the latest major auto manufacturer to quietly back away from EVs over the past year.
Major automakers have been reconsidering aggressive electric vehicle strategies amid growing challenges. Companies like Ford and General Motors, which previously committed billions to EVs, are scaling back their plans due to rising production costs, supply chain disruptions, and lukewarm consumer demand.
The shift comes as market realities clash with ambitious goals, prompting some automakers to delay or reduce their EV rollouts.
Now, Volvo has followed suit.
“The Geely-owned Swedish group had been the first among traditional carmakers to pledge a complete switch to electric, and remains the most bullish about the transition even as rivals including Ford and General Motors have also walked back on their EV targets,” wrote Inagaki for the Financial Times. “Jim Rowan, Volvo’s chief executive, on Wednesday blamed changing market conditions and consumer…