Al-Futtaim’s Trading Enterprises – Volvo announced today Volvo Cars commitment 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 only sell fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids.
The company’s transition towards becoming a fully electric car maker is part of its ambitious climate plan, which seeks to consistently reduce the life cycle carbon footprint per car through concrete action.
Its decision also builds on the expectation that legislation as well as a rapid expansion of accessible high-quality charging infrastructure will accelerate consumer acceptance of fully electric cars.
Volvo Cars’ move towards full electrification comes together with an increased focus on online sales and a more complete, attractive and transparent consumer offer under the name Care by Volvo. All fully electric models will be available online only.
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 engine cars is a shrinking one.
“To remain successful, we need profitable growth. So instead of investing in a shrinking business, we choose to invest in the future – electric and online,” said Håkan Samuelsson, chief executive. “We are fully focused on becoming a leader in the fast-growing premium electric segment.”
Volvo Cars launched its first fully electric car, the XC40 Recharge, in markets around the globe last year. Later today the company will reveal its second fully electric car, a new model in the 40 Series.
In coming years Volvo Cars will roll out several additional electric models, with more to follow. Already by 2025, it aims for 50 per cent of its global sales to consist of fully electric cars, with the rest hybrids. By 2030, every car it sells should be fully electric.
“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, chief technology officer. “We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030. It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change.”
Oscar Rivoli, Managing Director of Trading Enterprises – Volvo, said: “The goal of the UAE is clear when it comes to protecting the environment – to build an economy that protects the environment and an environment that supports the growth of the economy. With this new commitment, Volvo is setting new benchmarks for clean motoring to actively contribute to a lower carbon footprint in the UAE.”
A subsidiary of the Al-Futtaim Automotive Group, Trading Enterprises was established in 1970s in Dubai and is the exclusive authorized distributor for Volvo in the UAE. It is empowered by a highly skilled and trained professional team to provide a complete car buying experience. Al-Futtaim Automotive is one of five divisions within the Al-Futtaim Group which provides quality products and services that enrich people’s lives and aspirations each and every day.
About Trading Enterprises – Volvo
Trading Enterprises, part of Al-Futtaim Automotive, is the exclusive distributor of Volvo cars in the UAE since 1985. The ISO9001:2008 company represents the world-renowned Volvo cars brand well known for its intuitive innovations, safety, environmental performance and Scandinavian design through its sales and after-sales network in Dubai and Abu Dhabi.
Trading Enterprises – Volvo offers a complete range of premium mobility solutions in the premium segment that includes: Sedans (S60 and S90), Versatile estates (V60 and V90) and SUV vehicles (XC40, XC60 and XC90). Trading Enterprises is regarded as pioneers in the region by Volvo when it comes to adopting Volvo best practices and has introduced the region’s first Volvo Retail Experience Showroom and Volvo Personal Service – which offers a human-centric approach to sales and service.
About Al-Futtaim Automotive
Al-Futtaim Automotive, one of the main five operating divisions within the UAE-based Al-Futtaim Group of companies, is a conglomerate of motoring-related businesses, franchising some of the world’s most-recognised automotive brands and services.
Operating in 10 countries across the Middle East, Asia and Africa and empowered by around 9,000 associates, the UAE-headquartered Group’s services span across distribution of new and used vehicles, manufacturing, leasing, and aftersales.
Ranging from passenger cars to SUVs, commercial vehicles, industrial and construction equipment as well as motorbikes and quads, Al-Futtaim Automotive Group offers an integrative customer-centric experience for motorists, fleet operators and contractors alike, and strives to become the leader in tailor-made mobility solutions
Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates.
Structured into five operating divisions; automotive, financial services, real estate, retail and health; employing more than 42,000 employees in more than 20 countries in the Middle East, Asia and Africa, we partner with over 200 of the world’s most admired and innovative brands.
Al-Futtaim’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.