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Tag: Håkan Samuelsson

  • Volvo First Automaker to Pursue Fossil-Free Steel

    Volvo First Automaker to Pursue Fossil-Free Steel

    Volvo is working with Swedish steel maker SSAB in an effort to move to fossil-free steel for automotive production.

    Volvo has been one of the automakers working to transition to an all-electric lineup, with the company planning on completing the transition by 2030. Not content to stop there, the company is looking to reduce its carbon footprint even further by exploring fossil-free steel — steel made with electricity and hydrogen energy instead of coal-fueled furnaces.

    SSAB is working to bring commercial scale fossil-free steel to the market by 2026, and Volvo is wasting no time exploring its viability for auto production.

    “As we continuously reduce our total carbon footprint, we know that steel is a major area for further progress,” said Håkan Samuelsson, chief executive at Volvo Cars. “The collaboration with SSAB on fossil-free steel development could give significant emission reductions in our supply chain.”

    “We are building an entirely fossil-free value chain all the way to the end customer,” Martin Lindqvist, President and CEO at SSAB said. “Our breakthrough technology has virtually no carbon footprint and will help strengthen our customer´s competitiveness. Together with Volvo Cars, we aim to develop fossil-free steel products for the cars of the future.”

  • Volvo Will Transition to All-Electric Lineup by 2030

    Volvo Will Transition to All-Electric Lineup by 2030

    Volvo has become the latest company to embrace an all-electric lineup, promising to achieve that goal by 2030.

    One company after another has committed to phasing out internal combustion engines. Subaru has committed to an all-electric lineup by the mid-2030s, Bentley by 2030, GM by 2035 for light-duty vehicles and Ford by 2030 for the EU market.

    Volvo has now committed to an all-electric lineup by 2030 and plans to phase out any remaining internal combustion models by then, including any remaining hybrids. The company is positioning its decision as an investment in the future, rather than hanging on to a dying business.

    “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.”

    As a short-term goal, the company plans to transition to an electric and hybrid lineup by 2025, with its global sales split between the two categories.

    Volvo’s goal is one of the more ambitious among auto manufacturers, and will likely put additional pressure on its larger rivals.