Volvo’s electrifying plans
Will it spark a change for other manufacturers?
Forget the Tesla’s of the world for a second, when you think of a manufacturer committed to innovation, does Volvo come to mind? I’m sure for many they do, some they may not. Well they certainly have been leading the charge on the Electric Vehicle (EV) front.
In July of last year, they announced that all Volvo they would have a new focus on EV’s, including 5 new fully EV models. This made headline news across the board and maybe coincidently a few weeks later AB Volvo stock price began to drop.
The announcement this week has been no less dramatic and no less impactful on the stock price. From 2019 conventional Petrol and diesel engines will be phased out and they will become the first ‘premium’ manufacturer to commit their future fully to Electric power only.
It’s a very bold move from Volvo who are looking to cement their place as a market leader in the EV/Hybrid market. It feels like a measured risk, which could hit the company in the short term, but bear real fruit in the medium to long term.
So if you’re a big Volvo fan and want to continue to hear the roar of the combustion engine, we’d recommend saving those pennies and trying to find a classic Volvo P1800.
Read ore about Volvo’s EV plans – https://www.wired.com/story/volvos-electric-car-plan/