Volvo had previously announced its decision to stop manufacturing diesel-powered cars by the beginning of 2024. As per the plan, the automaker has now produced its last diesel car at its production facility based in Sweden. The final diesel breed—the XC90 SUV—will be showcased at the World of Volvo Museum in Gothenburg. The Geely-owned firm has decided to discontinue its range of diesel vehicles as part of a larger plan to go electric from 2030. Due to changes in consumer demand, stricter pollution standards, and a growing electrification strategy, the company plans to focus on electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs).
The diesel market share in Europe decreased from 16.4% in 2022 to 13.6% in 2023, according to the European Automobile Manufacturers' Association (ACEA). The Plug-in hybrids made up 7.7% of the market last year, while electric vehicles accounted for a 14.6% share. In contrast, gasoline-powered cars dominated the market with 35.3% of the share, whereas standard hybrids contributed 25.8%. Other forms of power sources made up the remaining 3%.
Volvo offers a range of electric cars in the global market, including the EM90, EX30, EX90, and EX40. However, in India, the company only has two electric vehicle models available - the XC40 Recharge and the C40 Recharge. According to reports, the carmaker is investing heavily in these two cars to establish a strong presence in India's electric vehicle market. Let's take a closer look at other developments of the firm in more detail.
Volvo XC40, C40 Electric SUVs Renamed Globally
Volvo renamed its two popular electric vehicles—the XC40 Recharge and the C40 Recharge—for the foreign market last month. The XC40 Recharge is now known as the EX40, while the C40 Recharge is called the EC40. Notably, the company has also dropped the 'Recharge' suffix from its plug-in hybrid models, which will now be referred to as T6 or T8, denoting different power output levels. The nameplate of the XC40 will remain the same for its ICE variants. Although Volvo's Indian branch has not released any information, there is speculation in the market that EVs sold in India will soon have new names and badges.
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