{"id":342192,"date":"2024-09-06T16:38:11","date_gmt":"2024-09-06T14:38:11","guid":{"rendered":"https:\/\/climatescience.press\/?p=342192"},"modified":"2024-09-06T16:38:15","modified_gmt":"2024-09-06T14:38:15","slug":"volvo-abandons-2030-ev-target-as-market-woes-continue","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=342192","title":{"rendered":"Volvo Abandons 2030 EV Target As Market Woes Continue"},"content":{"rendered":"\n
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From Watts Up With That?<\/a><\/p>\n\n\n\n

THE DAILY CALLER<\/a><\/p>\n\n\n

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Owen Klinsky<\/a>
<\/strong>Contributor<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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 \u201cmild,\u201d non-plug-in hybrids, a company press release stated<\/a>. Volvo\u2019s backpedaling comes amid lower-than-expected consumer demand<\/a> for EVs and a recent industry shift<\/a> away from electrification. (RELATED: REPORT: $84 Billion Worth Of Biden-Subsidized Manufacturing Projects Floundering)<\/a><\/strong><\/p>\n\n\n\n

\u201cWhile 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,\u201d the company wrote. \u201cThe 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.\u201d<\/p>\n\n\n\n

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Volvo has ditched plans to sell only electric cars by 2030 amid waning demand for battery powered vehicles.<\/p>\n\n\n\n

Another big manufacturer ditching EV plans. #CostOfNetZero<\/a><\/p>\n\n\n\n

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https:\/\/t.co\/i7qPgRbjLx<\/a>\u00a0pic.twitter.com\/AMlxhyAKwv<\/a><\/p>\n\n\n\n

\u2014 Net Zero Watch (@NetZeroWatch) September 4, 2024<\/a><\/p>\n<\/blockquote>\n\n\n\n

\u201cWe are and will remain an industry leader in electrification and nearly half of our global sales are either fully electric or plug-in hybrids,\u201d a Volvo spokesman told the DCNF.<\/p>\n\n\n\n

The company\u2019s shift in strategy comes amid broader challenges in the EV market, with consumer demand<\/a> coming in lower than proponents hoped, according<\/a> to Fortune, and automakers like Rivian, Ford and General Motors hemorrhaging<\/a> cash on their EV initiatives.<\/p>\n\n\n\n

Ford<\/a> scrapped plans to manufacture a three-row electric SUV in August, while Mercedez-Benz dropped<\/a> its goal of an all-electric line-up by 2030 in February. Luxury EV maker Lucid<\/a> laid off 6% of its workforce in May, equating to roughly 400 employees.<\/p>\n\n\n\n

Volvo\u2019s Wednesday announcement is the latest setback for President Joe Biden\u2019s goal<\/a> of having 50% of new U.S. car sales be EVs by 2030.<\/p>\n\n\n\n

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter\u2019s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org<\/a>.<\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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.<\/p>\n","protected":false},"author":121246920,"featured_media":342198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691821977,691830493],"class_list":{"0":"post-342192","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-electric-vehicles-evs","9":"tag-volvo-cars","11":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0volvo-calls-for-standardized-electric-car-charging_4.jpg?fit=2008%2C1340&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1r1e","jetpack-related-posts":[{"id":299874,"url":"https:\/\/climatescience.press\/?p=299874","url_meta":{"origin":342192,"position":0},"title":"The West\u2019s humiliating electric car climbdown has begun","author":"uwe.roland.gross","date":"05\/02\/2024","format":false,"excerpt":"France\u2019s President Macron had a plan to make millions of electric vehicles a year. 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