Volvo EV Plan Reversed: Is This Downfall or Transition of the EV Industry?
Sweden – Volvo Cars has abandoned its ambitious goal of becoming an all-electric vehicle manufacturer by 2030, citing evolving market conditions and a slowdown in electric vehicle (EV) demand. With the Volvo EV Plan reversed, the Swedish automaker has revised its strategy to include a mix of electric, plug-in hybrid, and mild hybrid models by the end of the decade.