Volvo commits to electric cars across the board

In what could be described as a win for environmental sustainability, Volvo becomes the first traditional carmaker to announce an end to the combustion era. The car maker announced that from 2019, all its new models will either be fully electric or a hybrid. It would, however, continue the manufacture of earlier models that have combustion engines. By 2021, the company plans to launch five fully electric models and a range of hybrid models.

According to Hakan Samuelson, the chief executive of Volvo’s carmaking division, “This marks the end of the sole combustion engine-powered car. People increasingly demand electrified cars, and we want to respond to our customers’ current and future needs.”

It is true that combustion engines are cheaper to produce, however, they do have more impact on the environment. Consequently, regulators are becoming more stringent with allowable carbon dioxide emission, even as consumers are becoming more selective and demanding organisations to be more environmentally responsible. Volvo is no doubt is positioning itself to take advantage of this shift in consumer preference – a strategy that some may refer to as “Green capitalism”.