General Motors, Ford, and other large manufactures have recently committed billions of dollars towards further development of internal combustion engines (ICE) and their dinosaur-juice fuelled vehicles.

Commenting on his competitors’ slower move to electric vehicles, Volvo Cars’ new CEO Jim Rowan is promoting a different approach, and cautions his competitors against hedging their bets by investing heavily in internal combustion engines (ICE) as they “risk missing the market.”

LMC Automotive reported EV sales surged 72% globally to 7.97 million vehicles in 2022. Nearly 10 percent of new light vehicles sold were pure battery electric vehicles (BEV).

Volvo EX90

Volvo EX90

Volvo is introducing two new EV in 2023 and plans to launch a new EV model every year for the next three or four years.

The flagship Volvo EX90 all-electric 7-seat SUV and a second, more modest crossover will both be in production by the end of this year.

Source » Automotive News 🔒 /