Volvo Cars is committed to becoming a leader in the fast-growing premium electric car market and plans to become a fully electric car company by 2030. By then, the company intends to sell only fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids.“When buying an electric Volvo online, it will come with a convenient care package that includes items such as service, warranty, roadside assistance, as well as insurance where available and home charging options,” Volvo said.

The 2030 ambition represents an acceleration of Volvo Cars’ electrification strategy, driven by strong demand for its electrified cars in recent years and a firm conviction that the market for combustion-engined cars is a shrinking one. Volvo Cars launched its first fully electric car, the XC40 Recharge a new small electric SUV. The C40 is nearly identical to the XC40, and Volvo plans to introduce a new family of electric cars in the coming years, all of which will be sold exclusively online.

In the coming years, Volvo Cars will roll out several additional electric models, with more to follow. Already by 2025, it aims for 50 percent of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.

Other carmakers have announced plans in recent months to accelerate their transition to electric vehicles. Last month, Ford Motor Co announced that its European lineup will be fully electric by 2030, while Jaguar Land Rover, a Tata Motors subsidiary, announced that its luxury Jaguar brand will be entirely electric by 2025 and that the carmaker will launch electric models across its entire line-up by 2030.

In November, Bentley, a luxury carmaker owned by Volkswagen, announced that all of its models would be electric by 2030. General Motors (GM) recently announced it is aiming to sell only emission-free vehicles by 2035. Automobile manufacturers are racing to develop zero-emission vehicles in order to meet CO2 emission targets in Europe and China, as well as impending fossil-fuel vehicle bans in some countries.