In a statement released on Tuesday, September 19, Swedish vehicle manufacturer, Volvo Cars has announced that it intends to end production of its diesel models by early 2024, in its bid to become an all-electric carmaker.
While Volvo has only now officially announced a time frame to end the production of diesel-powered vehicles, 2022 statistics showed that diesel-powered vehicles only made up 8.9% of the company’s sales in Europe.
Electric vehicles (EV) and hybrid models made up 33% of Volvo’s sales in August this year. The rising EV sales and climate change concerns are among the reasons Volvo wants to focus entirely on an all-electric production.
“In a few months from now, the last diesel-powered Volvo car will have been built, making Volvo Cars one of the first legacy car makers to take this step,” the Swedish company said in its statement.
Volvo isn’t the only vehicle company experiencing low diesel car sales. The European market saw diesel-powered vehicles accounting for only 14% of car sales in July. Electric vehicles, however, have recently experienced a surge in sales despite a lukewarm reception during their initial release. Germany France, Italy, and Spain have recorded significant growth in registrations and sales of EVs, with Tesla leading the charge for sales.