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THE TRUMP 2024 THREAD
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<blockquote data-quote="newfie" data-source="post: 6107587" data-attributes="member: 58700"><p>Volvo's business plan has been to move away from gas and diesel to electric. Reuters has completely misrepresented this move.</p><p></p><p>Yes, Volvo's business plan has shifted significantly away from diesel and toward electrification, though its approach has evolved in response to market conditions. Here's a concise overview based on available information:</p><ul> <li data-xf-list-type="ul"><strong>Diesel Phase-Out</strong>: <strong>Volvo ceased production of all diesel-powered models by early 2024</strong>, making it one of the first major automakers to fully phase out diesel. This decision was driven by changing consumer preferences, stricter emissions regulations, and a strategic focus on electrification to improve urban air quality and reduce environmental impact. In 2019, most Volvo cars sold in Europe were diesel-powered, but by 2023, over half of its European sales were electrified models.<br /> <br /> <br /> </li> <li data-xf-list-type="ul"><strong>Electrification Goals</strong>: Volvo initially pledged to become a fully electric carmaker by 2030, aiming to sell only battery electric vehicles (BEVs) and phase out all internal combustion engine (ICE) vehicles, including hybrids. This ambition was announced in 2021 and supported by plans to launch one fully electric car annually through 2025, starting with the XC40 Recharge in 2019. By 2025, Volvo targeted 50% of its global sales to be fully electric, with the rest hybrids.<br /> <br /> <br /> </li> <li data-xf-list-type="ul"><strong>Adjusted Strategy (2024)</strong>: Due to slower-than-expected EV adoption, insufficient charging infrastructure, reduced government incentives, and tariffs on EVs (particularly from China), Volvo scaled back its 2030 EV-only target. It now aims for 90–100% of its global sales by 2030 to be electrified (fully electric or plug-in hybrids), with up to 10% potentially mild hybrids if market conditions require. Volvo expects 50–60% of sales to be electrified by 2025, with fully electric vehicles comprising 26% of sales in Q2 2024. Despite this adjustment, Volvo remains committed to becoming fully electric in the long term and achieving net-zero greenhouse gas emissions by 2040.<br /> <br /> <br /> <a href="https://www.media.volvocars.com/global/en-gb/media/pressreleases/333213/volvo-cars-adjusts-electrification-ambitions-remains-committed-to-fully-electric-future" target="_blank"><img src="https://imgs.search.brave.com/cJ_qvk0SF5Y63U9JuvUAIBIxeYE4OYyG5VHTn9EH2hw/rs:fit:64:0:0:0/g:ce/aHR0cDovL2Zhdmlj/b25zLnNlYXJjaC5i/cmF2ZS5jb20vaWNv/bnMvNThjMjQwNDhk/Yzg2Y2FlZmE1NmUy/ZTIwYTg2Yjk5MjU1/YjNiNDU2NjRhOWY0/ZDY0YTM4ZDc2MGQ5/NDYyOTY4Yi93d3cu/bWVkaWEudm9sdm9j/YXJzLmNvbS8" alt="" class="fr-fic fr-dii fr-draggable " style="" /></a></li> <li data-xf-list-type="ul"><strong>Current EV Portfolio and Investments</strong>: Volvo has five fully electric models on the market (e.g., EX30, EX90) and five more in development. It has secured battery supply deals with LG Chem and CATL and is investing in online sales and simplified product offerings. Plug-in hybrids, like the XC60, remain popular, with about half of their driven kilometers on electric power. Volvo's EV strategy has proven profitable, with a 70% increase in fully electric car sales in 2023 (113,419 units) and a fourfold increase in EV gross profit margins in the second half of 2023 compared to 2022.<br /> <br /> <br /> </li> <li data-xf-list-type="ul"><strong>External Challenges and Advocacy</strong>: Volvo emphasizes the need for stronger government policies to support EV adoption, citing issues like charging infrastructure gaps and trade tariffs. Its majority owner, Geely, faces challenges with tariffs on Chinese-made EVs in Europe and North America, impacting production costs.<br /> <br /> </li> <li data-xf-list-type="ul"><strong>Volvo Trucks</strong>: Volvo Trucks is also advancing electromobility, with models like the VNR Electric and significant orders (e.g., 35 electric trucks to PreZero in 2025). It offers tools like total cost of ownership calculators and financing to support fleet transitions to zero-emission vehicles.<br /> <a href="https://www.volvotrucks.us/innovation/electromobility/" target="_blank"><img src="https://imgs.search.brave.com/7coVdhHgoqIz1UGU_xIV-jMySeTKyQ0qdFL1G0aQMf4/rs:fit:64:0:0:0/g:ce/aHR0cDovL2Zhdmlj/b25zLnNlYXJjaC5i/cmF2ZS5jb20vaWNv/bnMvYTIzY2YyYTVi/NTA1ZDJiNTIxM2Qw/ODFkODE5YWE4Zjli/N2Q2Mzc0NGFhM2Ey/NjY2ZGQzMjFjODc1/MWY3MmM2YS93d3cu/dm9sdm90cnVja3Mu/dXMv" alt="" class="fr-fic fr-dii fr-draggable " style="" /></a></li> </ul><p><strong>Critical Perspective</strong>: While Volvo's pivot away from diesel is clear and its electrification efforts are substantial, the 2024 adjustment reflects pragmatic realism. The auto industry’s transition to EVs is not linear, as consumer hesitancy, infrastructure limitations, and geopolitical factors like tariffs complicate the shift. Volvo’s reliance on hybrids as a bridge technology aligns with competitors like Toyota and Renault, suggesting a cautious hedge against overcommitting to EVs prematurely. However, its long-term commitment to full electrification and net-zero emissions by 2040 keeps it among industry leaders, especially in the premium segment. The success of this transition will depend on external factors like policy support and infrastructure development, which Volvo cannot fully control</p></blockquote><p></p>
[QUOTE="newfie, post: 6107587, member: 58700"] Volvo's business plan has been to move away from gas and diesel to electric. Reuters has completely misrepresented this move. Yes, Volvo's business plan has shifted significantly away from diesel and toward electrification, though its approach has evolved in response to market conditions. Here's a concise overview based on available information: [LIST] [*][B]Diesel Phase-Out[/B]: [B]Volvo ceased production of all diesel-powered models by early 2024[/B], making it one of the first major automakers to fully phase out diesel. This decision was driven by changing consumer preferences, stricter emissions regulations, and a strategic focus on electrification to improve urban air quality and reduce environmental impact. In 2019, most Volvo cars sold in Europe were diesel-powered, but by 2023, over half of its European sales were electrified models. [*][B]Electrification Goals[/B]: Volvo initially pledged to become a fully electric carmaker by 2030, aiming to sell only battery electric vehicles (BEVs) and phase out all internal combustion engine (ICE) vehicles, including hybrids. This ambition was announced in 2021 and supported by plans to launch one fully electric car annually through 2025, starting with the XC40 Recharge in 2019. By 2025, Volvo targeted 50% of its global sales to be fully electric, with the rest hybrids. [*][B]Adjusted Strategy (2024)[/B]: Due to slower-than-expected EV adoption, insufficient charging infrastructure, reduced government incentives, and tariffs on EVs (particularly from China), Volvo scaled back its 2030 EV-only target. It now aims for 90–100% of its global sales by 2030 to be electrified (fully electric or plug-in hybrids), with up to 10% potentially mild hybrids if market conditions require. Volvo expects 50–60% of sales to be electrified by 2025, with fully electric vehicles comprising 26% of sales in Q2 2024. Despite this adjustment, Volvo remains committed to becoming fully electric in the long term and achieving net-zero greenhouse gas emissions by 2040. [URL='https://www.media.volvocars.com/global/en-gb/media/pressreleases/333213/volvo-cars-adjusts-electrification-ambitions-remains-committed-to-fully-electric-future'][IMG]https://imgs.search.brave.com/cJ_qvk0SF5Y63U9JuvUAIBIxeYE4OYyG5VHTn9EH2hw/rs:fit:64:0:0:0/g:ce/aHR0cDovL2Zhdmlj/b25zLnNlYXJjaC5i/cmF2ZS5jb20vaWNv/bnMvNThjMjQwNDhk/Yzg2Y2FlZmE1NmUy/ZTIwYTg2Yjk5MjU1/YjNiNDU2NjRhOWY0/ZDY0YTM4ZDc2MGQ5/NDYyOTY4Yi93d3cu/bWVkaWEudm9sdm9j/YXJzLmNvbS8[/IMG][/URL] [*][B]Current EV Portfolio and Investments[/B]: Volvo has five fully electric models on the market (e.g., EX30, EX90) and five more in development. It has secured battery supply deals with LG Chem and CATL and is investing in online sales and simplified product offerings. Plug-in hybrids, like the XC60, remain popular, with about half of their driven kilometers on electric power. Volvo's EV strategy has proven profitable, with a 70% increase in fully electric car sales in 2023 (113,419 units) and a fourfold increase in EV gross profit margins in the second half of 2023 compared to 2022. [*][B]External Challenges and Advocacy[/B]: Volvo emphasizes the need for stronger government policies to support EV adoption, citing issues like charging infrastructure gaps and trade tariffs. Its majority owner, Geely, faces challenges with tariffs on Chinese-made EVs in Europe and North America, impacting production costs. [*][B]Volvo Trucks[/B]: Volvo Trucks is also advancing electromobility, with models like the VNR Electric and significant orders (e.g., 35 electric trucks to PreZero in 2025). It offers tools like total cost of ownership calculators and financing to support fleet transitions to zero-emission vehicles. [URL='https://www.volvotrucks.us/innovation/electromobility/'][IMG]https://imgs.search.brave.com/7coVdhHgoqIz1UGU_xIV-jMySeTKyQ0qdFL1G0aQMf4/rs:fit:64:0:0:0/g:ce/aHR0cDovL2Zhdmlj/b25zLnNlYXJjaC5i/cmF2ZS5jb20vaWNv/bnMvYTIzY2YyYTVi/NTA1ZDJiNTIxM2Qw/ODFkODE5YWE4Zjli/N2Q2Mzc0NGFhM2Ey/NjY2ZGQzMjFjODc1/MWY3MmM2YS93d3cu/dm9sdm90cnVja3Mu/dXMv[/IMG][/URL] [/LIST] [B]Critical Perspective[/B]: While Volvo's pivot away from diesel is clear and its electrification efforts are substantial, the 2024 adjustment reflects pragmatic realism. The auto industry’s transition to EVs is not linear, as consumer hesitancy, infrastructure limitations, and geopolitical factors like tariffs complicate the shift. Volvo’s reliance on hybrids as a bridge technology aligns with competitors like Toyota and Renault, suggesting a cautious hedge against overcommitting to EVs prematurely. However, its long-term commitment to full electrification and net-zero emissions by 2040 keeps it among industry leaders, especially in the premium segment. The success of this transition will depend on external factors like policy support and infrastructure development, which Volvo cannot fully control [/QUOTE]
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