Volvo Cars announced Tuesday that it will stop producing diesel-powered vehicles by 2024, accelerating its transition to fully electric cars in response to climate change.
The Swedish automaker said production of diesel cars will end in early 2024, making Volvo one of the first major automakers to completely phase out diesel engines. Volvo sold its remaining stake in powertrain venture Aurobay last November and is no longer spending any research and development funds on new internal combustion engines.
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“Electric powertrains are our future and superior to combustion engines – they generate less noise, less vibration, lower servicing costs for our customers and zero tailpipe emissions,” Volvo CEO Jim Rowan said in a statement. “We’re fully focused on creating premium electric cars that deliver on everything customers expect from a Volvo.”
Volvo aims to sell only electric cars by 2030 and become a climate neutral company by 2040. Rowan said the company is accelerating its transformation in part because of the “urgency of the climate emergency.”
A United Nations report this year underscored the need for immediate action to fight climate change, he said. “It is high time for industry and political leaders to be strong and decisive, and deliver meaningful policies and actions,” Rowan added.
To emphasize the company’s commitment, Volvo Chief Sustainability Officer Anders Kärrberg will attend events at Climate Week NYC and meet with the Accelerating to Zero Coalition, a group launched at November’s COP27 climate summit.
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As recently as 2019, most Volvo cars sold in Europe had diesel engines. But customer demand and tighter emissions regulations have rapidly shifted the auto industry toward electric vehicles.
Now a majority of Volvo’s European sales are either fully electric or plug-in hybrid models. Phasing out diesels will further reduce nitrogen oxide emissions that affect air quality in cities, even as Volvo cuts carbon dioxide emissions by going electric.
“Our decision to completely phase out diesels illustrates how rapidly both the car industry and customer demand are changing in the face of the climate crisis,” Volvo said in its announcement. In 2019, diesel engines were still Volvo’s “bread and butter” in Europe.
The company hopes Tuesday’s diesel announcement and its participation in climate events in New York will inspire other automakers to take bolder steps to fight climate change.
