Volvo Will No Longer Develop New Any New Diesel Engines
Volvo, the Swedish multinational manufacturing car company has recently announced that it’s ramping up plans on focusing primarily on electric vehicles (EV). This is great news for, well, everyone. What’s even more interesting here is that Volvo is also not the only big car manufacturer to say this. Volkswagen has also entered the race for electric vehicles, saying that it will be the no.1 EV manufacturer by 2025. And interestingly enough, both of these companies’ decision was strongly influenced by Elon Musk’s Tesla.
After Tesla presented its first all-electric semi-truck, Volvo’s President and CEO, Hakan Samuelsson, said that “We have to recognise that Tesla has managed to offer such a car for which people are lining up. In this area, there should also be space for us, with high quality and attractive design.”
He also went on saying that “From today’s perspective, we will not develop any more new generation diesel engines.” He also said that “We have just launched a brand new generation of petrol and diesel engines, highlighting our commitment to this technology. As a result, a decision on the development of a new generation of diesel engines is not required.”
What this means is that Volvo will continue to develop its latest version of diesel engines so as to meet all the environment standards. But Samuelsson expects these improvements will drive their prices up, thus giving EVs an extra advantage. In any case, Volvo has made it clear that it start producing electric cars, even if it will be doing so alongside their standard diesel ones.
The Volvo electric vehicles are expected to hit the market sometime in 2019 and would cost somewhere around $35,000 to $40,000. They are also hoping to build them with a 250-mile range, and thus allow people to reduce their carbon footprint.