Volvo announce plan to go all electric by 2030

Volvo will include wireless upgrades and fixes for its new electric models – an approach originally pioneered by electric carmaker Tesla Inc. This means the C40’s range will be extended over time with software upgrades, Chief Technology Officer Henrik Green said.

Carmakers are racing to switch to zero-emission models as they face CO2 emissions targets in Europe and China, plus looming bans in some countries on fossil fuel vehicles.

Last month, Ford Motor Co said its lineup in Europe will be fully electric by 2030, while Tata Motors unit Jaguar Land Rover said its luxury Jaguar brand will be entirely electric by 2025 and the carmaker will launch electric models of its entire line-up by 2030.

In November, luxury carmaker Bentley, owned by Germany’s Volkswagen, said its models would be all electric by 2030.

Electrification is expensive for carmakers and as electric vehicles have fewer moving parts, employment in the car industry is expected to shrink.

Volvo CEO Samuelsson said that industry-wide, electrification will mostly affect engine plants and auto suppliers providing everything from oil filters to fuel injectors and spark plugs.

“Those are a lot of jobs of course,” he said. “But overall I don’t think there will be a big difference.”

Volvo said it will “radically reduce” the complexity of its model line-up and provide customers with transparent pricing.