Volvo Plans to Go All Electric
Sweden-based automaker Volvo Car Group announced today that it will convert to a fully electric-car brand by 2030. The automaker, owned by Chinese firm Geely Automobile Holdings (OTC: GELYY), will accelerate production of its Recharge line that currently has five plug-in hybrid models and plans for a full electric powertrain.
The automaker is joining the ranks of other brands including General Motors (NYSE: GM) and Ford (NYSE: F) in making the conversion away from fossil fuels. GM has said it will exclusively offer electric vehicles by 2035, and Ford plans to transition gradually over the next decade. Beginning in 2024, Ford says, its entire commercial lineup will be "zero-emissions capable, all-electric, or plug-in hybrid."
Source Fool.com
