Swedish carmaker Volvo is planning to phase out fossil-fuel engines this decade and shift to a fully electric car lineup by 2030, according to a report.

  • Volvo said 50% of global sales should be fully electric by 2025. The other half will be hybrid models.
  • A new family of electric cars will be launched in coming years, exclusive online. The second all-electric model C40 to be unveiled Tuesday. Wireless upgrades and fixes also planned.
  • Network of 2,400 traditional brick-and-mortar dealers to remain open to service vehicles and assist in online orders.
  • Production is not affected so far by global semiconductor chip shortage, but chief executive officer Hakan Samuelsson said it could happen one day.
  • “I am totally convinced there will be no customers who really want to stay with a petrol engine,” said Samuelsson.