Volvo to kill off its diesel engine production next year

Volvo made a significant announcement during Climate Week NYC, revealing its intention to cease the production of diesel vehicles by early 2024. Apart from phasing out diesel-fueled vehicles, Volvo has set ambitious goals for itself to achieve total electrification by 2030 and strive for climate neutrality by 2040. These targets come in the wake of a strategic move made by the automaker in November, wherein it divested its stake in Aurobay, a joint venture that encompassed all of its combustion engine assets. This is why Volvo has ceased its investments in gasoline and diesel engine development, choosing to focus its energy on its electrification and sustainability objectives.

As per Reuters, in the year 2019, a significant majority of Volvo's European car sales were diesel-powered. However, by 2022, this figure had dwindled to a mere 8.9 percent of the manufacturer's total sales. In the present, Volvo’s vehicle lineup either consist of fully-electric cars or a plug-in-hybrid vehicle. To put into perspective how committed Volvo is, even its truck manufacturing arm is making the shift toward electric vehicles. Series production of EV Volvo trucks in Ghent, Belgium just recently, and this production plant has an annual capacity of approximately 45,000 electric trucks.

To put Volvo’s message across, Anders Karrberg, Volvo's Chief Sustainability Officer, is slated to participate in an event organized by the Accelerating to Zero Coalition during this year's Climate Week. The Accelerating to Zero Coalition, launched during the COP27 climate summit, serves as a multi-stakeholder platform for signatories of the Glasgow Declaration on Zero Emission Vehicles. 

The move to kill diesel engines is an integral part of Volvo's roadmap to achieving carbon neutrality. As early as 2019, Volvo initiated the electrification of its entire new model lineup, encompassing various technologies such as hybrid, plug-in hybrid, and fully battery-electric vehicles like the upcoming EX30 and EX90 SUVs. Beyond that, there are also reports that the Swedish car brand plans to launch at least six EVs by 2026, intending to make electrified versions of the nameplates they have today.